After being interrogated for more than 14 hours, Alvin Chau Cheok Wa has been sent to the Coloane prison this morning.
Business
Suncity Group Holdings and Summit Ascent Holdings issue statements announcing they are awaiting developments in case involving their chairman.
MOP 3 million in cash and computer equipment seized in city-wide swoop; suspects make partial confession but refuse to say more.
Board of directors appears to distance itself from controlling shareholder following his arrest by police in Macao.
Police swoop on two addresses in Macao, seizing MOP 3 million and computer items; case transferred to Public Prosecutions Office.
Prosecutors in Wenzhou build case against Chau who they allege ran multi-million-dollar network encouraging illegal cross-border gambling.
Prosecutors allege Chau ran vast syndicate in China that encouraged illegal gambling activities; urge him to surrender for ‘lenient punishment’.
Ruling brings six-year legal wrangle to an end; likely to have significant implications for casinos’ future relations with junket operators.
Due to start within the next few months, the auctions aim to raise public revenues and ease Macao’s housing high-priced market.