Published
Land-BasedCasino

Macau police bust an alleged casino loan-sharking ring

Maca

macausharkloanring
u’s police have busted a loan-shark syndicate that allegedly loaned over HKD28.7m US$3.67m) since 2012. According to the authorities, eight mainland China residents have been arrested last night and 11 more suspects including the ringleader remain at-large.

The operation targeted casinos in the Cotai district. Macau’s Judiciary Police confirmed that the suspects are said to be part of a larger gang that illegally had loaned money to at least 60 gamblers since July 2012, charging them excessively high-interest rates. It is believed that the gang would charge 10% interest as well as an agreed amount for each hand played by the victim.

Arrests were made following up a police investigation to a suspected illegal inn. During a search to the property in Taipa last Tuesday, officers found that the residential apartment was actually being used as a base for the allegedly loan-sharking group.

This news comes in the wake of an increase in illegal gambling-related activities in the Cotai strip. Last month, in an official statement, the Director of Macau’s Judiciary Police Chau Wai Kuong said that the “gaming-related crime situation remains serious

“We have witnessed an increase in the number of cases of unlawful detention related to loan-sharking operations”, he added.

Casino News Sponsor
Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Seminole Hard Rock Support Services
Seminole Hard Rock Support Services
Metropolitan Gaming
Holland Casino
Follow Us

Facing Facts: Q1 2024 analysis from across the globe

Gambling Insider tracks the Q1 results of operators across t...

Taking Stock: A guide to sports betting operator and supplier prices

Gambling Insider tracks sports betting operator and supplier...

Tailor-made: The power of personalisation in the modern gaming industry

With insights from GR8 Tech, Greentube and the Oregon Lotter...

Sportradar and the Taiwan Sports Lottery: More offerings, greater efficiency

Danny Fok, VP of Strategic Projects at Sportradar, speaks al...