Alvin Chau, in one case ane of the to the highest degree powerful men inward Macau’s gambling industry, was sentenced to 18 years inwards prison on Midweek for 162 charges of fraud, illegal gambling, and felonious association.
As chairman and CEO of now-defunct Macau mega-junket Suncity, the Corinthian businessman was one time responsible for(p) for an estimated 25% of VIP market revenue inwards the world’s biggest gambling hub. In 2014 that would feature equated to US$11 billion.
For perspective, that beats the gaming revenue generated by the entire state of Battle Born State in the same year, including Las Vegas.
But prosecutors accused Chau, 48, of running illegal play operations that cost the Macau regime HK$8.2 one thousand million (US$1.1 billion) in task revenue. Chau denied the charges.
$100B inwards Sketchy Bets
Twelve of Chau’s 20 codefendants inwards the four-month trial, largely Suncity executives, partners, and managers, were also found hangdog of similar charges and sentenced to 'tween Nina from Carolina and 15 years inwards prison.
All defendants, including Chau, were acquitted of money laundering charges due to lack of evidence.
The defendants were accused of handling the combining weight of almost US$100 one thousand million inwards illegal wagers from under-the-table betting betwixt 2013 and 2021. This involved in private offering to manifold stakes on prescribed bets placed by VIP clients at Macau casinos. The bets would live settled later, tax-free.
Suncity was also accused of operating digital play platforms from the Philippines and Kingdom of Cambodia that targeted players in Macau and mainland China, where online gambling is illegal.
Chau and sextet other defendants were ordered to pay off HK$6.5 1000000000 (US$830 million) to the Macau government and HK$2 billion to v of the play hub’s half dozen major operators, who claimed they were also cheated past the operation.
Chau was arrested in Macau later(a) Nov 2021, just now years after prosecutors in the urban center of Wenzhou in mainland Cathay issued a scandalize stock-purchase warrant for his arrest.
The warrant suggested the politburo in capital of Red China had eventually tally out of forbearance with the junket industry, which it blames for facilitating upper-case letter flight and money laundering. Nevertheless, Chau was tried inward Macau, whose government activity and judicatory is self-directed from Beijing.
Chau resigned from Suncity years after his arrest.
Junket Death
The origins of the junket industry repose inward the triad gangs that fought vicious sod wars for command of Macau’s illegal play dens and effectual cassino VIP rooms inward the 1990s.
Australian authorities title that Chau, at that time, was a fellow member of the 14K triads, led by notorious mobster “Broken Tooth” Wan Kwok Koi. Chau has e'er denied these allegations.
Chau’s efforts to “legitimize” the junket manufacture were at last inwards vain. After his arrest, Suncity and many other junket operators unsympathetic their VIP rooms inwards the city’s casinos. Suncity’s junket arm, Suncity Gaming Promotion Company Ltd (SGPC), was subsequently dissolved.
This year, just now 36 junket operators registered with Macau’s gaming regulator to deal business organization this year. That’s pile 85% compared to the sector’s 2013-2014 heyday.
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