Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Macau police question junket mogul Chau after China city issues warrant

Stock MarketsNov 27, 2021 02:00AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: A logo of Macau junket operator Suncity Group is seen at a gaming fair in Macau, China November 18, 2015. REUTERS/Bobby Yip/File Photo

By Clare Jim

HONG KONG (Reuters) - Macau said police were questioning Alvin Chau on Saturday, after a Chinese city issued an arrest warrant for the junket mogul, accusing him of operating gambling activities in mainland China.

The Macau government said in a statement that Chau, founder of the special administrative region's biggest junket operator Suncity, was taken to the police station in the morning, based on earlier evidence and after it received a notification about the arrest warrant from the mainland authorities.

Suncity operates VIP gambling rooms across Asia. Junket operators are go-betweens who bring high rollers to play at casinos, extending them credit and collecting on their debts.

Casino gambling is illegal in China outside Macau, the world's largest gambling hub.

Authorities in the eastern Chinese city of Wenzhou said on Friday their investigation had found Chau formed a junket agent network in the mainland to help citizens engage in offshore and cross-border gambling activities.

Chau also set up an asset management company in the mainland to help gamblers to make cross-border fund transfers, the Wenzhou City Public Security Bureau in the coastal city in Zhejiang province said on its Weibo (NASDAQ:WB) account.

Chau and Suncity could not be reached by phone for comment, and did not immediately respond to email inquiries.

GGRAsia, a news outlet on the Asia casino industry, quoted a Suncity spokesperson as saying by email early on Saturday that "all businesses are normally operating in accordance with the law and under the supervision of the Macau Special Administrative Region Government."

Suncity's publicly listed entity in Hong Kong, Suncity Group Holdings Ltd, does not include its junket operations.

The Wenzhou authority said that as of July 2020, the "crime syndicate" led by Chau had 199 shareholder-level agents, more than 12,000 gambling agents and over 80,000 punter members.

"The amount of money involved was exceptionally large, seriously damaging our country's social management order," the security bureau said. "The security authorities urges (Chau) to surrender himself as soon as possible, in order to get a lenient treatment."

Jeremy Douglas, Southeast Asia and Pacific representative for the United Nations Office on Drugs and Crime, told Reuters, "Chau's arrest warrant is no doubt sending shockwaves through organised crime in Hong Kong and Macau, but also Cambodia, Laos and the Philippines.

Douglas said Suncity has been linked to major drug traffickers and money laundering for many years.

Chau has grown Suncity from operating a high-roller table in Wynn Macau (OTC:WYNMF)'s casino in 2007 to a sprawling conglomerate with thousands of employees and businesses ranging from property to autos.

In 2019, Suncity was singled out https://www.reuters.com/article/china-casinos-idINL4N24A13F by state-backed Chinese media which attacked online gambling for causing what it described as great harm to China's social economic order. Suncity said it did not operate any online gaming at the time.

Macau police question junket mogul Chau after China city issues warrant
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email