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Taiwanese businessman owes convicted ex-junket Alvin Chau MOP1.5bn

Sheen had signed 17 promissory notes to Chau’s company and then failed to meet them in 2017, leading to court contempt and his assets seized. 

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Sheen Ching-Jing, Chairman of the Core Pacific Group, was found to owe former junket operator Alvin Chau gambling debts amounting up to MOP1.5bn ($190m).

According to Macau news media, the fact was found during the ongoing investigations on Sheen, involving a corruption scandal regarding the redevelopment of a luxury project in downtown Taipei.

The investigations showed that Sheen had signed “17 promissory notes to Chau’s Hong Kong company, reflecting his substantial financial obligations.” When Sheen failed to “meet his financial obligations” in 2017, he was charged for contempt of court and had his assets seized. Said assets included Tao Zhu Yin Yuan residential tower. 

Sheen was accused of offering NT$ 47m ($1.47m) as “donations” to Taipei City councilor Angela Ying for the above-mentioned redevelopment project. The Taipei District Court ruled said action as bribery rather than charity. The case had further implicated several other figures in Taipei, such as former leader candidate Ko Wen-je and former deputy mayor Pong Cheng-sheng.

As of Alvin Chau’s last updates, the Macau Court of First Instance had auctioned off his assets at a reduced value of MOP$300m to settle the compensation of about HK$25bn (US$3.2bn) owed to the Macau Government for the crimes Chau was found guilty of.

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