From The New York Daily News:
Maybe MIT should stand for “muggers in training.”
Ten years after a group of Massachusetts Institute of Technology students and a professor famously took Las Vegas casinos to the cleaners counting cards, a new gambling scandal has arisen that involves MIT: a researcher and a group of students scammed the Massachussets Lottery.
Worse though, is that the Massachusetts Lottery knew they were doing it and chose to share in the windfall instead of protecting the integrity of the game.
The math whizzes were looking for a unique school project when a couple of them figured out that it would only take about $100,000 in tickets to guarantee success in the Cash WinFall game. When the jackpot rose to $2 million or more, group members bought in and shared in the prize money. By 2005, the group had earned about $8 million in winnings, reported the Boston Globe.
Despite an obvious conflict of interest in knowing that the game was compromised, officials continued to allow hundreds of thousands of $2 tickets to be bought by the merry band of thieves, the paper reported.
Continue reading the rest of the story on The New York Daily News