Skip to content
Menu
Menu

Properties belonging to convicted junket king Alvin Chau are to be sold off

Chau was given an 18-year prison sentence earlier this year after being convicted of scores of counts of fraud, criminal association and illicit gaming activities.

ARTICLE BY

PUBLISHED

Chau was given an 18-year prison sentence earlier this year after being convicted of scores of counts of fraud, criminal association and illicit gaming activities.

ARTICLE BY

PUBLISHED

UPDATED: 21 Dec 2023, 11:30 pm

A number of properties belonging to disgraced junket operator Alvin Chau will be auctioned in two months’ time, a court in Macao has ruled.

The Court of First Instance has ordered some 36 pieces of real estate to go under the hammer on 12 September, according to multiple media reports.

Most of the lots reportedly consist of parking spaces, with prices set from 1.13 to 1.18 million patacas each. The total value of all the lots, which include several commercial properties, is believed to be in the region of 600 million patacas.

[See more: A proposed legal amendment will tighten sources of credit for high-rollers]

Suncity Group founder Alvin Chau was sentenced to 18 years in prison in January after being found guilty of more than 100 counts of illicit gambling activities, fraud and involvement in a criminal organisation.

Chau and five other defendants were also ordered to pay billions of patacas to the government and local gaming concessionaires in compensation for lost taxes and revenues.

The high-profile case was emblematic of the local government’s determination to tighten oversight of junket operators

and came in the wake of a gaming bill that reformed many aspects of casino operations.

 

UPDATED: 21 Dec 2023, 11:30 pm

Send this to a friend