The regular way of winning at the casino was not good enough, so this man tried something different as he wanted a sure thing and was quite successful for a while. His name is Louis B. Colavecchio, also known as “The Coin”, 64 year old Colavecchio is a well known organized crime associate. He researched means and ways of producing similar counterfeits of various slot machine coins in various casinos. The tokens he and his gang created ranged from $5 all the way up to $100 JOKER123 .
Some of the casinos he victimized were Foxwoods and Mohegan Sun, both these casinos are located in the heart of Connecticut. However he also forged coins at places such as the world famous Trump Marina Casino, Atlantic City Hilton, the Trump Plaza Casino, Sands Casino, Taj Mahal Resort and Caesar’s Palace Casino.
To forge the coins, Colavecchio took the coins from the aforementioned casinos and would then make accurate rubber molds where the coins would be duplicated after specific chemical procedures took place. To complete the involved task he utilized the services of expert chemists. The chemists had the complicated task in determining what the original coins were made of which had a major impact in the correct operation of the fake coins. Colavecchio distribute the counterfeit tokens to other well known associates who would in turn also use these coins in the casinos.
Its not only the players that get a casino bonus, in this case the casino received a bonus of coins, this surplus of coins from their slot machines led to suspicion that something fishy was going on. The cases were reported to the FBI and the agency initiates an operation to trap Colavecchio and his gang. The operation ended in a success which led to the capture and arrest of “The Coin” Colavecchio.
The 64 year old suspect faces various charges which include ten counts of forgery, counterfeiting and of course, alteration of the casinos trademark. Colavecchio was released after paying $25, 000 worth of surety bond. A Providence district court granted him temporary freedom after he appeared in court.