Prosecutor alleges Chau caused Macao to lose HK$8.26 billion in tax revenue; 48-year-old former CEO points finger of blame at fellow defendant, Cheong Chi Kin.
Alvin Chau Cheok Wa
One time king of the high rollers faces string of charges including money laundering and illegal betting involving sums up to HK$800 billion.
If convicted, Chau who was once Macao’s high-flying junket operator could face eight to 15 years behind bars.
Group sent memo to staff noting ‘careful consideration’ and ‘grievous’ nature of the move.
Associate Billy Choi released but may not leave Macao; police point to strong evidence linking pair to organised crime, illegal gambling and money laundering.
Junket operations curtailed, government officials will inspect every three years, and threat to national security can lead to licence being cancelled.
Woman surnamed Ho refused to cooperate with police; junket group founder Alvin Chau Cheok-wa remains in Coloane prison awaiting trial.
Finance chief Lei Wai Nong urges defunct junket operator to respect staffers’ rights, undertakes to work to boost the economy with more infrastructure projects.
News of termination no real surprise following arrest of Alvin Chau; company’s Hong Kong-listed arm facing ‘possible loan default’.
