31-year-old Akingde Cole, who stole $1.6 in chips from The Venetian in Las Vegas earlier this month, was arrested last week after being found near his mother's home. Las Vegas police officers traveled to California, and say they have recovered $396,000 worth of chips so far. They believe it's highly unlikely that Cole would've been able to claim all of the high-value chips.
Nevada Gaming Control Board Chief of Enforcement Jerry Markling says that Vegas casinos will circulate an alternate set of chips after a theft, thus making anyone using the stolen chips stick out like a sore thumb. Cole will be extradited to Nevada to face charges of burglary, grand larceny, and possession of burglary tools.