Las Vegas company that tracks casino cheats files for Chapter 11 - Monday 12th of September 2005
Griffin Investigations, Inc., a company known in the casino world for tracking cheats, has filed for Chapter 11 bankruptcy after losing a court battle to two gamblers who say they were unfairly marked.
The Las Vegas-based company filed for bankruptcy protection last week, citing assets and debts of between $100,001 and $500,000. The company owes more than $109,000 in legal fees stemming from a July judgment in favor of gamblers Michael Russo and James Grosjean.
The two, who filed a defamation lawsuit against Griffin, were awarded $105,000 in damages and attorneys fees, according to Griffins Sept. 7 bankruptcy filing. Russo and Grosjean claimed Griffin had false information about them that led to their April 2000 arrest in Las Vegas. Charges were later dropped.
Griffin publishes volumes containing thousands of names and photos that can be accessed online. It uses a sophisticated facial recognition program and sends out alerts notifying casino security when a suspected swindler or card counter is gambling.
A message left for lawyer Stephen Harris, who is representing Griffin in the bankruptcy, was not immediately returned.
Griffin Investigations was incorporated in 1967. Stockholders are listed as Beverly S. Griffin and Robert R. Griffin, who each own 50 percent of the company. Both are also listed as creditors, with the company owing each $74,000 and $50,000 respectively.
Little is known about Griffin Investigations, which guards its operations as closely as its database. Other than clients, only state gambling regulators are allowed to see it.
Court records show the company has six employees and more than 100 clients. The company is not without its critics, who claim the secretive agency is error-prone and labels people without proof.
People are listed in the Griffin for a variety of activities and crimes, such as impersonating casino employees, card bending and stealing chips, coins and purses from other gamblers.
Griffin has helped break up some lucrative card-counting rings, including a team of Massachusetts Institute of Technology students who won millions of dollars at blackjack by keeping track of aces and face cards played.
While technically operating within the law, card counters are not welcome at casinos because they calculate the probability of cards yet to be played to increase their odds of winning.
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