Wow, they raided a vault complex and are seizing what is in the vaults because the owners of the vault business were engaged in illegal activity!

While it is questionable to keep $1 million in cash in your home, I would assume that was not the majority of Powers' assets, and he had safe deposit boxes, bank accounts, brokerage accounts, etc.

Not because the owners were engaged in illegal activity but rather because they are alleged to be involved in illegal activity.. I'm sure the feds view the anonymous storage of assets very poorly and will happily do everything in its power to destroy this business.

That being said, this is just $86 million dollars worth of assets. Just wait until the feds start doing this sort of thing with crypto.

id swap cash for btc from chad and his rule was always "100k min, no exceptions". The first time he forgot to respond when we asked how to pay him, so when we went to make another trans the following week we mention we still owe him 100 and he legit had completely forgot. I imagine swaps like this is how he got 1m in cash.chips at his house. He also played nosebleeds but he also staked players in very big games, meaning he needed liquidity on hand if ppl needed rebuy etc

no money is safe in your house or in your pocket so act accordingly.

and if you declare your profits from whatever in life, and invest it after just a few years you will be ahead and after many, very rich. if you leave it in a safe, inflation will make you poorer.

Lol thank you for your honesty! Super run bad, I had just bought a new house and moved in. The safe was supposed to be in the floor, but the construction wasn't done yet. I had just sold some BTC (at 25k) for about 1.4m, and put the money in my safe. I left to go play poker and took $300k with me to play. I agree that all of this is incredibly stupid and careless of me, and everyone who is saying I'm an idiot for this is, of course, 100% correct. Do not recommend. Get robbed, they take my safe, but don't take my Trezor (BTC wallet). So, had I not sold BTC they would have grabbed an empty safe, and then I would have doubled that money holding on to BTC! Fun times.

FWIW, I did stop posting on IG, but that had nothing to do with why someone targeted me or how they found out where I lived - a third person tipped them off, and the police found out who, but that stuff is all still in progress. Posting lifestyle stuff on IG actually opened a lot of doors for me.

For those wondering about taxes, I do have a tax attorney and had not paid taxes on the previous year yet (I actually tried on Jan 2, but you can't pay taxes the first two weeks of the year) and was essentially able to not have to pay on the money stolen.

Police did such an amazing job with the case. Three people were detained so far (one not in article). The third guy had his house raided and in a safe he had cash and chips. Police got a DNA sample from me and checked to see if my DNA was on that cash/chips and it was. Everyone is pleading not guilty, and trial was delayed so still waiting.

Thanks for the update KyddDynamite. Getting robbed sucks and no-one should be blaming you. From what I read/heard some of these low-lifes had done this before and probably could've happened to a number of folks that play and live in Vegas. Glad to hear LVMPD are doing a good job. Hopefully you'll be made whole and certainly a lot wiser.

Good luck at the pokerz may variance be on your side.

Can you go back to posting on IG please? The time where you got the dude to go into the bank with just an Instagram message and try pick up 10k in cash and film himself was incredible.

Cliffnotes :


-Chad Power

-he's the man whose name you'd love to touch

-but you mustn't touch

-his name sounds good in your ear, but when you say it, you mustn't fear

-cuz his name can be said by anyooooooooone

Have your attorney do an asset investigation on all of them.
You'll be able to recover in a civil suit, even if the cash is gone.

Clever

Whether clever or common sense, isn't that exactly what Chad did here? He left $1 million in a safe. The dummies didn't even question it and just took off with the million while leaving the vast majority of the money behind.

Glad this ended well for you man!

i never would have guessed 3 ninjas residual checks would be so big

were you made whole? surely they didn't recover all of it did they?

I think '2nd Safe Theory' works a little something like this:

Have two safes, one with an amount of money that's large enough to be worth their time to take it and run, but not so small that they're motivated to hold out for more.
In the second safe, with extreme concealment measures taken (like, cut into the floor under the fridge, or something like that), is where the greater value stuff is kept.

Its possible that $1MM was such chickenfeed to him that it was worth it to keep them from overlooking his safe with $20MM, but in reality, its probably not chickenfeed and he would have been better off keeping $95K in the 'find me' safe and then if held under duress, just claim the rest was in a safety box or on deposit at the bank, or whatever. $95K is a lot of cash for the sorts of people who rob other people. If they're not set on killing you (something largely out of your total control), its enough to inspire them to GTFO, which is the best case scenario.

Not even slightly harshing the dude for enduring an awful circumstance but yeah. If you're a professional higher stakes poker player, lots of dirtbags will know you have a lot of cash and you must-must take somewhat elaborate countermesures for when the day comes that some of them follow you home. Happened to Doyle Brunson and several others over the years.

I once found $9k in cash I had forgotten about in one of my "hiding spots"

Was Chad Power the "He called with 9 high" guy, or i'm i thinking of someone else?

That was Ellix Powers.

Lol of course it isn't safe to keep such a large amount in the house, I'd invest the money to increase my capital

LoL @ investing your day to day bankroll. That makes no sense whatsoever.

under the mattress

where you gonna put the dead hookers to make room?