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| Mtl Re-Max agent Ting-Sheng Chao Crouching tiger, hidden gambler |
The story begins with a random encounter at the roulette wheel at the Montreal casino between Chao and financial planner Chi-Wei Lin in November of 2007.
The two knew each other when they were younger and were happy to bump into each other.
Lin had been going to the casino for about five years by then and Chao had just started getting into the habit out of boredom after having been sidelined from work due to a car accident.
According to Chao, her dazzling roulette skills attracted a a partner named John to join forces with her. She never did find out his last name, however.
They each put in $3,500 and shared profits of up to 65 percent for a few months.
She said Lin was invited in to the moneymaking gambling scheme, but she eventually lost their money at the tables.
She admitted signing debts of $53,000 to Lin but said she had only done it at knifepoint and had reported it to police.
Lin, however, had a radically different story. He said that he started by lending Chao small amounts of cash, which she promised higher interest rates on. He lent her $23,000 early in 2008 and Chao paid back $36,000 three months later.
Lin then lent Chao a series of loans totaling $51,000 for which she promised a return of $78,000 around 90 days after. Lin said he never threatened her with a knife but raised his voice at her.
According to the court, Chao's testimony included an incomprehensible tirade of explanations concerning her debts. Chao's lawyer said that Lin was addicted to gambling but the judge said that didn't make sense because if he liked it so much he'd be shooting craps and watching the roulette wheel spin on his own.
The court determined that Chao gambled at the casino at least five times a week and was extremely intense when discussing her strategies, and promised a return of 65 percent on loans. The court didn't believe that Lin threatened her with a knife either.
On Nov. 27 Judge Nicole M. Gibeau sided against Chao and ordered her to pay Lin $49,300 back.
The moral of the story: don't lend money to a gambler.