Paul Phua and seven others arrested for illegal World Cup bets at Caesars - Poker News

An FBI-led raid shut down an illegal sports betting operation at Caesars Palace last week that authorities say was run by Chinese nationals who were taking wagers on the World Cup soccer tournament.

Among eight people arrested over the weekend was Paul Phua, a well-known poker player and frequent Las Vegas visitor who is considered one of the wealthiest individuals in China.

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Last edited by Videopro; 07-14-2014 at 06:51 PM.

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07-14-2014 , 05:05 PM

LoLuMaD

journeyman

Join Date: Sep 2010 Posts: 381

Seems like he was just taking friendly wagers from friends kinda like how us normal people bet like 100 bucks they were just betting millions which is probably the same equivalent

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07-14-2014 , 05:08 PM

ratslla

Pooh-Bah

Join Date: Sep 2010 Posts: 5,532

Single bet over 50milly. Badass

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07-14-2014 , 05:10 PM

SenatorKevin

veteran

Join Date: May 2007 Posts: 2,905

Quote:

Originally Posted by ratslla

Single bet over 50milly. Badass

Sounds like someone is guilty of being awesome. All kidding aside, guess we'll get more details in a few hours after their arraignment.

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07-14-2014 , 05:19 PM

wj94

Carpal \'Tunnel

Join Date: Dec 2011 Posts: 7,951

Hope he bet on Germany with that $50 mil...

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07-14-2014 , 05:59 PM

Bageled

grinder

Join Date: Mar 2013 Posts: 663

LOL @ comments on LVRJ page.

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07-14-2014 , 06:03 PM

PokerFan2008

adept

Join Date: Jun 2008 Posts: 1,091

As I read, I thought how much money can we really be talking about here?….Then I go to the the last line or two…damnnnnnnn

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07-14-2014 , 06:06 PM

iPUTnutsONtheTABLE

grinder

Join Date: Aug 2010 Posts: 578

In Macau, gaming revenue from casinos is in the billions of US dollars every month, so these kind of bets are not at all crazy.

The total revenue for casinos in Macau is around $50,000,000,000 a year. Yes, 50 billion US dollars.

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07-14-2014 , 06:12 PM

AngerPush

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Join Date: Oct 2009 Posts: 32,048

Quote:

Originally Posted by wj94

Hope he bet on Germany with that $50 mil...

You sure? Germany was -.25 yesterday so a bet on Argentina would've won half and split half.

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07-14-2014 , 06:19 PM

#10

golfnutt

banned

Join Date: Oct 2007 Posts: 5,969

Quote:

Originally Posted by ratslla

Single bet over 50milly. Badass

Wowser. That is insane.

Wonder if they paid off in cash. $1 bills.

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07-14-2014 , 06:36 PM

#11

idlikeadrinkplease

adept

Join Date: Jun 2008 Posts: 1,094

How do these guys bet with an illegal bookie in Las frickin Vegas?

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07-14-2014 , 06:38 PM

#12

lamma404

journeyman

Join Date: May 2011 Posts: 218

Quote:

Originally Posted by idlikeadrinkplease

How do these guys bet with an illegal bookie in Las frickin Vegas?

No casino is going to book 50mil in action? lol

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07-14-2014 , 06:38 PM

#13

SenatorKevin

veteran

Join Date: May 2007 Posts: 2,905

Article has been updated.

Quote:

According to the FBI complaint, Phua’s son, identified as Darren Wai Kit Phua, was among the other seven people charged in Las Vegas. The other defendants taken into custody were: Seng Chen Yong, Wai Kin Yong, Hui Tang, Yan Zhang, Yung Keung Fan and Herman Chun Sang Yeung.

The eight defendants were each charged with one count of illegal transmission of wagering information and one count of operating an illegal gambling business, both felonies.

Following his arrest in Macau, Paul Phua was released on bail and flew to Las Vegas on a private jet, where he and his associates are alleged to have resumed their illegal gambling at Caesars Palace, the complaint alleged.

The group reserved three high-roller villas at the Strip resort and at their request was provided with an “unusually large amount of electronics equipment and technical support.”

After Caesars technicians tipped off authorities, FBI agents posed as electrical and computer experts and were able to see first-hand the high-tech, illegal gambling operation, the complaint alleged.

Federal search warrants were executed last Wednesday at the three Caesars Palace villas, the complaint said

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07-14-2014 , 06:39 PM

#14

Jam-Fly

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Join Date: Feb 2007 Posts: 99

Quote:

Paul Phua ... who is considered one of the wealthiest individuals in China.

Is that true??

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07-14-2014 , 06:52 PM

#15

golfnutt

banned

Join Date: Oct 2007 Posts: 5,969

Quote:

Originally Posted by SenatorKevin

Article has been updated.

Why would they go to Las Vegas to do illegal gambling? Casinos are incredibly regulated with law enforcement all over the place. Plus, if they were known in Macau they would probably be tipped off in Vegas too.

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07-14-2014 , 06:58 PM

#16

elendil200

adept

Join Date: Jun 2008 Posts: 1,031

Quote:

Originally Posted by Jam-Fly

Is that true??

Per capita, sure.

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07-14-2014 , 07:01 PM

#17

venice10

Referee

Join Date: Nov 2007 Posts: 25,855

Pro tip. If the guy you're representing bolted from his home country after receiving bail, the judge isn't going to be impressed with your word he's going to stick around in the US.

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07-14-2014 , 07:02 PM

#18

SenatorKevin

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Join Date: May 2007 Posts: 2,905

Quote:

Originally Posted by golfnutt

The WSOP was running? They were a big fixture in Ivey's room last year at Aria. (No clue about this year)

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07-14-2014 , 07:11 PM

#19

riverboatking

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Join Date: Jun 2004 Posts: 23,789

Quote:

Originally Posted by AngerPush

You sure? Germany was -.25 yesterday so a bet on Argentina would've won half and split half.

you know there is also an "advance line" right?

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07-14-2014 , 07:12 PM

#20

plzd0nate

veteran

Join Date: May 2010 Posts: 2,407

degenerates.

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07-14-2014 , 07:15 PM

#21

iPUTnutsONtheTABLE

grinder

Join Date: Aug 2010 Posts: 578

Quote:

Originally Posted by golfnutt

When you have the kind of money Paul Phua does, you don't worry about some bogus bookmaking charges. He's already hired the highest profile criminal defense attorney in Nevada and one of the best in the entire United States.

I'd say the real losers here are whatever Caesar's employees tipped off the police. They will surely be fired as Phua is a lot more important to the casino than they will ever be.

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07-14-2014 , 07:20 PM

#22

pissychips

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Join Date: Jul 2012 Posts: 2,029

Hardly newsworthy...

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07-14-2014 , 07:27 PM

#23

pocket_zeros

Pooh-Bah

Join Date: Jun 2008 Posts: 4,389

I suspect the FBI's raid was coordinated with the Chinese government's permission, which has been cracking down on Chinese citizens skirting Yuan foreign-exchange rules and using gambling to launder money. There was an article in Bloomberg today about a crackdown on a large Chinese bank for this:

http://www.bloomberg.com/news/2014-0...-of-china.html