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Suspect arrested in Venetian chip heist

Suspect arrested in Venetian chip heist

By Molly Waldron. CREATED Oct 30, 2012

Las Vegas, NV (KTNV) -- A suspect accused of stealing chips from the casino at The Venetian was arrested last week in Southern California.

Las Vegas police said Akingide Cole was arrested after a tip led California authorities to the suspect.

Authorities later found more than $396,000 in chips taken from The Venetian. Police said the total value of the chips stolen exceeded $1.6 million.

Police say the chips were stolen from a closed area of the casino the morning of Oct. 10. Police identified Cole as the suspect using footage from security cameras.

Cole faces charges of grand larceny, burglary and possession of burglary tools.