Macau junket operator involved in money laundering probe

By Christine Duhaime | February 21st, 2010

According to a report in the South China Morning Post, police arrested Lin Chiu, an investor in the Neptune Group Limited for allegedly money laundering.

The Neptune Group, a publicly traded company, is said to own 70% of the Hong Kong-based gambling cruise ship called “Neptune” and operates VIP junkets to casinos in Macau, including the StarWorld and Venetian Macau.

Casino junkets have been criticized by the Financial Action Task Force because they facilitate the movement of large amounts of money across borders and through multiple casinos by third parties and create layers of obscurity around sources of money and the identity of gamblers. Junkets are casino-based gaming tours that bring in large groups of high-paying customers to gamble.

Few jurisdictions regulate junkets and they have been known to act as a front for unlicensed casinos.

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