Suncity Group subsidiary insists Alvin Chau’s arrest by Macao police has little implications for firm’s business operations

Hong Kong-listed movie company Sun Entertainment (8082) – a subsidiary of Suncity Group Holdings (1383) – issued a statement on Sunday evening describing the arrest of the firm’s controlling shareholder Alvin Chau Cheok Wa as a personal matter and maintaining that the incident would not affect the firm’s financial standing or business operations.

Sun Entertainment added that it was aware of the police investigation into Chau, and that it would update its shareholders and potential investors regarding the latest development of this incident when necessary.

Alvin Chau, who owns three HK-listed companies – Suncity Group Holdings, Sun Entertainment and Summit Ascent Holdings – was first wanted by the Wenzhou police in mainland China on Friday on charges of opening casinos, organising cross-border gambling for Chinese nationals and operating Internet gambling activities. The junket boss was then taken in by Macau police for questioning in the early hours on Saturday.

According to the Macau Judiciary Police, Chau is now detained on charges of illicit operation of gambling, forming a criminal gang and money laundering.

A spokesman of the Judiciary Police told reporters during a Sunday press conference that the Macau authorities’ investigation into Chau was initiated by an independent probe and intelligence gathering on the part of Macau police. He added that it remained unclear whether the Macau case was related to the investigation by the Wenzhou police as the Macau authorities had not received any information regarding the mainland probe.

Chau had admitted to the crimes of establishing gambling platforms overseas and running proxy gambling but had denied all other charges and refused to cooperate in this regard, noted the spokesman.

Chau has been identified as the leader of the illegal gambling group, and 10 other people related to the group have also confessed to the same crimes as Chau.

All 11 people have been transferred to the Public Prosecutor’s Office. The case is still under further investigation and the police do not rule out more arrests.

這篇文章 Suncity Group subsidiary insists Alvin Chau’s arrest by Macao police has little implications for firm’s business operations 最早出現於 Allin News。

Read Rhis 👉 新聞來源
——
博彩新聞 Gambling Inside News @GamblingInsideNews
https://t.me/GamblingInsideNews
——
via Adam Qain sAgjChzN
#AllinNews 🇭🇰 HKG