A Macau court on January 18 sentenced Alvin Chau to 18 years in prison on charges including criminal association, illegal gambling and fraud.
Local news agency Asian GGR Citing a Macau court ruling on the morning of January 18, which said that in addition to the above crimes, Alvin Chau – who used to run the largest junket system Macau Suncity Group – was not found guilty of money laundering due to insufficient evidence.
Alvin Chau, Former Chairman of Suncity Group, was once a leader in the lucrative gambling industry attracting wealthy gamblers from mainland China in Macau. Chau was arrested in November 2021 for conducting illegal gambling activities. The focus of the authorities’ investigation is on the underground gambling system founded by Chau.
According to prosecutors, since 2013, Chau’s group has processed nearly HK$824 billion ($105 billion) in gambling money from the underground system, generating an illegal profit of HK$21.5 billion. That resulted in a tax loss of HK$8.26 billion for the Macau government.
Alvin Chau – founder of Suncity Group. Photo: Bloomberg
Chau’s ups and downs come as Beijing tightens policies at the world’s largest gambling hub. After decades of making easy profits and a reputation for helping China’s richest people move money abroad, casino tycoons are facing stiff crackdowns.
Authorities have arrested casino owners and passed new gambling laws to strengthen supervision of casinos in an effort to stem capital outflows and speed up the region’s integration into the economy. China’s economy, which bans gambling.
Macau’s casino industry has also been hampered by strict Covid-19 rules that have prevented many Chinese tourists from coming to play. Tourists have only recently returned after China dropped its “no Covid” policy last month and reopened.
However, restrictions on VIP gamblers and China’s slowing economy have caused tourists to spend less, leading to a dimmer outlook for Macau’s gambling industry recovery.
Alvin Chau founded Suncity Group in 2007 with the help of Macau gangster – Wan Kuok-koi (aka Broken Tooth Koi). Like other junket operators, Suncity Group provides amenities such as transportation, accommodation, credits to gamblers, and then collects commissions and other remuneration.
The junket system that Chau built became an important part of Macau’s gambling industry, expanding into both the Philippines and Russia.
In addition to the gambling industry, Chau also expanded into a variety of businesses including finance, real estate, tourism, food service and entertainment. However, Chau’s early career was shrouded in mystery by the noisy private life between his wife and mistresses.
In addition to the above conviction, Chau is also currently being sued by several Macau casino operators and is seeking civil damages for losses arising from an underground gambling system related to Suncity.
Theo Ngoisao.net