Levo Chan Weng Lin (pictured), the man behind the Asian junket giant Takchun Group, was reportedly arrested by Macau police on Friday on charges that he also held a senior position in a local triad crime ring.
According to a report by GGRAsia, the entrepreneur, along with four others, was detained by judicial police in the Portuguese residence and is currently in a “pre-trial arrest” until he is in court. Macau prosecutors will claim Chan is running an illegal gambling operation while simultaneously laundering money in partnership with his former boss of rival junket company SunCity Group, the source said.
Chow was reportedly detained by Chinese police in late November on similar charges, while Takchun Group has been widely regarded as Asia’s second-largest junket operator after SunCity Group. The latter figure is still pending trial, although his arrest immediately sent the total value of shares in six clubs of licensed casino operators in Macau plunging $4.8 billion in connection with the local detention of 11 other individuals.
Law enforcement officers reportedly explained that they had long suspected a felony relationship between Chow and Chan, and the group’s prosecutor’s office said they would remain in custody during China’s Lunar New Year holiday, along with four of the other 15 people arrested later. The latter group also claimed that the alleged criminal activity committed by the suspects ‘has negatively affected the social order in Macau and the stable and sustainable development of Macau’s gaming sector’.
Further analyzing Chan’s alleged crimes, GGRAsia reported that the businessman is part of an illegal criminal organization and suspected of laundering money and illegal gambling operations in and out of the casino environment. Sources say these crimes could lead to up to 29 years in prison for the entrepreneur and law enforcement officers are accused of facilitating behind-the-scenes betting in the form of a “win” popular especially among some high-value gamblers.
Related news and GGRAsia said in a second report that Chan was additionally chief executive officer, executive director and co-chairman of Macau Legend Development Limited, a Hong Kong-listed casino operator operated under a sub-license held by Macau concessionary SJM Holdings Limited.
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