Alvin Chau Arrested for Operating Illegal Cross-Border Gambling Scheme

Although Macau casino tycoon Alvin Chau (周焯華) frequently makes headlines for his complicated relationship between his wife Heidi Chan and mistress Mandy Lieu (劉碧麗), Alvin shook the world media after being arrested on November 27 for alleged involvement with illegal cross-border gambling activities. He is currently held without bail at Coloane Prison in Macau while awaiting trial.

According to Chinese media outlets, the Wenzhou Public Security Bureau began probing Alvin and his associate Zhang Ningning (張寧寧) in July 2020 over the duo’s gambling business.

Although gambling in casinos is legal in Macau, it is illegal in Mainland China. Investigation into Alvin’s activities revealed that the tycoon organized a scheme to reserve rooms for the purpose of gambling in Mainland China, and coordinated transportation for his clients to gambling halls. In order to facilitate the cross-border gambling activities, Alvin allegedly set up asset management companies in China to offer money exchange services and loan services.

Through a coordinated investigation, it has been reported that the cross-border syndicate comprised of 199 shareholder-level agents, 12,000 agents to facilitate the gambling activities, which were participated by more than 80,000 Chinese gamblers. Many Chinese owned state media condemned the large-scaled illegal activities for “seriously undermining China’s social order.”

The Aftermath

Immediately after the news of Alvin’s arrest, share prices for gambling group Suncity Group Holdings LTD, where Alvin sits as CEO, took a nosedive and was suspended from trading on the market.

Operations for Suncity Group’s casinos were also impacted, as the company announced the closure of all of its VIP lounges. Suncity Group also denied rumors that employees’ salaries will be suspended, but added that there will be adjustments to account for the business interruptions.

Source: The Stand News