A pro gambler from New Jersey has been charged with cashing out hundreds of thousands of dollars in winnings in small chunks to avoid federal taxes.
Richard Dougherty, 52, of Linwood, won nearly $700,000 in just over a year from the Ameristar Casino in Kansas City, Mo., and methodically cashed the sum in amounts less than $10,000 to preclude detection, court records show.
Casinos must tell the feds when gamblers cash in or out more than $10,000.
Dougherty — a member of the infamous Tom Hyland Card Counting team — faces up to 10 years in prison and a fine of up to $500,000.