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Macau Junket Boss Gets 14-Year Jail Time for Illegal Gambling
Last updated on April 22nd, 2023 at 03:00 am
Authorities sentenced Macau junket boss Levo Chan to 14 years in jail for illegal gambling, operating criminal syndicates, money laundering, and fraud. Also, he apologized to his former employees at Tak Chun Group. He added that the company was not a triad group.
Chan headed Tak Chun, the second largest company in Macau’s junket industry. According to pay per head sources, he was one of the most influential people in Macau. Authorities jailed his competitor, Alvin Chau of Suncity, for 18 years for the exact charges.
Chan and Chau’s arrests were part of Beijing’s crackdown on the junket industry. According to gambling tutorials and news sites, authorities blamed the junket sector for allowing cross-border gambling, money laundering, and capital flight.
Macau Junket Boss Jailed for 14 Years
Both men were charged with running underground casinos that bilked the government of Macau out of millions of dollars. Tak Chun would increase the stakes on “official” bets he placed in Macau’s casinos. He did it by taking in private multiplier wagers. Prosecutors claim Chan’s company paid off teh winnings without remitting taxes.
On a total handle of $4.5 billion, it was estimated that Chan made $200 million from these wagers, costing the government $62 million in tax income.
Chan refuted the allegations against him. However, the prosecution presented wiretap evidence from 2018 and 2019 claiming that Chan approved an employee for multiplier betting. In addition, Macau’s judicial police have uncovered evidence that Tak Chun created internal training materials for workers, guiding them on how to place the bets.
Chan prepared to start again in Taiwan, a country that does not have an extradition treaty with either Macau or the People’s Republic of China, when he learned that prosecutors were preparing a case against him.
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