Police arrest Macau's No 2 junket boss in crackdown | Business and Economy
Authorities in the Chinese territory are stepping up a crackdown on illicit capital outflows from mainland China.
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Authorities in the Chinese territory are stepping up a crackdown on illicit capital outflows from mainland China.
HONG KONG — Police in Macau, the world's biggest gambling hub, said on Sunday (Jan 30) they had arrested two men for alleged illegal gambling and money laundering, as authorities step up a crackdown on illicit capital outflows from the Chinese mainland. "One of the men involved was responsible for operating an illegal gambling syndicate while the other offered assistance,"...
The head of Macau's second-largest junket group has been arrested by the city's police as authorities tighten the leash on the gambling hub's industry.
Macau Legend Development's share price plunged by as much as 30% in Hong Kong on Monday.
Chinese territory has seen increased scrutiny from the mainland, with a step up in crackdowns and tighter regulations for the gaming sector