Chapter 33. Gambling On A Profit


Frank Schultz was a fresh recruit and a rising star in the accounting department of Nasdall Bank's West End branch. He had become accustomed to the star treatment even before he began working at Nasdall; Frank took pride in his multiple most valued player (MVP) awards in the intercollegiate basketball tournaments he played in, representing State College. He loved flaunting an image of being linked with pretty girls, fabulous cars and extravagant nightlife. However, when Frank was recruited straight from graduation as an assistant accountant for Nasdall Bank, he was not ready to let go of the illusions of his good times in college. For him, life should not be a bore, even in the financial world. "Let's create excitement," he told himself.

During his university days, Frank masterminded a gambling game that he introduced to his school buddies. The players bet online, using an Internet hosting facility, for the last winning digit of the scores of their favorite National Basketball Association (NBA) team, and whoever hit the correct score would get the pot money. The winner would receive his take through an online credit to his bank account. The losers had to pay their share through an interbranch deposit to the dealer's account. The dealer, Frank, enjoyed a 10 percent commission and deposited the remaining 90 percent to the winning bettor's account.

At first, it was just a game for fun. Almost every participant would regularly bet ...

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