Palmdale Man Arrested in $1.6M Las Vegas Casino Heist
PALMDALE, Calif. (KTLA) -- A Palmdale man accused of stealing $1.6 million in high-value chips from the Venetian Hotel in Las Vegas has been arrested.

Police say that a tip led them to 31-year-old Akingide Cole, who had been on the run since Oct. 10.

Deputies from the San Bernardino and Los Angeles county sheriff's offices took 31-year-old Akingide Cole into custody on Oct. 24, near his mother's home.

Police say Cole snuck into a restricted area of the casino around 6 a.m. and made off with the chips.

"The subject went into a part of the casino that was closed down and went into a chip dealing area, but there was nobody in there," said Robert Duvall, of the Las Vegas Metro Police Department.

"He pried open a lock on the chip container and then made off with a lot of high-denomination chips," Duvall said

There were no weapons involved in the crime, and no confrontation occurred between the suspect and others during the incident.

Investigators have recovered $396,000 in chips so far.

The redeemable value of the chips is about $10,000 becasue of internal protocol that would flag the biggest chips, a spokesman for the Venetian's parent company said.