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Sentence of 18 Years in Jail for Alvin Chau, Former CEO of Suncity Group – World Casino News
The trial of Alvin Chau, former CEO of Suncity Group, has lastly ended. Macau Court of First Instance sentenced Chau, who was in cost of a Macau junket operator, to 18 years in jail. He has been discovered responsible on many prices.
Chau is the founder of Suncity Group, who was a pioneer in drawing Chinese vacationers to Macau to gamble. Since in mainland China playing is illegitimate, he used the possibility to ask all of the operators and gamers to Macau.
Chau additionally has to pay a superb of HK$6.5 billion, or about US$831 million. The superb will probably be paid to the Macau authorities in civil compensation, and the explanation for such a superb lies in income misplaced as a result of of “betting under the table” in Suncity VIP rooms. There is compensation to 5 concessionaires as effectively: Wynn Macau, Galaxy Entertainment Group, MGM China, Sands China, and SJM Resorts.
The whole quantity of about HK$2 billion, or US$250 million, has been cut up between the concessionaires. Wynn bought HK$770 million (US$98 million), Galaxy bought HK$550 million (US$70 million), the half that belongs to MGM is HK$300 million (US$38 million), to Sands belongs HK$290 million (US$37 million), and SJM’s piece is price about HK$170 million (US$22 million).
Official Ruling:
The verdict was introduced on Wednesday morning, about 4 months after the start of the trial. During the trial, 21 people have been included.
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Judge Lou Ieng Ha commented on Chau’s management of the casino and mentioned that he “conducted illegal gambling for unlawful gains for a long time.”
Macau Judiciary Police arrested Chau and 10 extra folks for alleged legal affiliation, cash laundering, and involvement in unlawful playing. One of six has been awaiting trial in Coloane Prison. The trial started in late November 2021.
In early December 2021, shortly after Chau was arrested, the corporate introduced the cessation of its junket enterprise. At the identical time, Chau stepped down from his place.
Suncity Group is a serious participant in the business, holding notable pursuits in numerous built-in resort developments in vital markets comparable to Vietnam, Russia, and the Philippines.
After the arrest, the Public Prosecutor’s Office accused Chau of 229 counts of unlawful playing and 54 counts of substantial fraud. There are additionally accusations of legal affiliation, unlawful playing, and cash laundering.
Questions Remain:
The listing of accusations doesn’t cease right here: Chau additionally made about MOP$21.5 billion, or US$2.67 billion of income. The origins of the cash lay in “betting under the table” actions. He defrauded the federal government and concessionaires as effectively.
The protection admitted the existence of unlawful betting in Macau however held to the shortage of proof concerning Chau’s involvement, in addition to the involvement of different SunCity executives and workers.
Chau denied all accusations, saying: “I don’t know why Suncity is deemed a criminal syndicate. My colleagues have not seen a cent of criminal proceeds up until now … We have never paid additional compensation for illegal acts.”
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