The final verdict from the legal proceedings against former Suncity Group CEO and chairman Alvin Chau and 20 other defendants will be stipulated in the middle of January next year, as per the schedule announced by the Macau Court of First Instance on December 1.
Chau Directs Apologies to Suncity Group Staff
Inside Asian Gaming reported that the case against 21 defendants from Suncity Group, including its ex-CEO Alvin Chau, will be closed with the final court decision being announced on January 18, 2023.
Alvin Chau was allowed to make a final statement in the legal proceedings. He chose to focus on apologizing and expressing his deepest regret that the Suncity Group staff and their families are suffering as a result of his arrest and the following trial against 20 other defendants.
Chau expressed hope that the other defendants will be released by the authorities and will be able to reunite with their families very soon.
Chau also highlighted that Suncity Group has been operating in the gambling market in Macau for over 10 years and denied the accusations that Suncity Group is a criminal organization.
Chau emphasized that the company has been operating VIP rooms in many countries but so far has never been the subject of any complaints or criminal charges.
He continued by saying that Suncity Group has never advertised its services in mainland China and has always conducted its business operations in unison with legislative requirements.
Chau also elaborated that it is not logical for a company, which has made profits of MOP 300 billion ($37.5 billion) in 10 years from gambling operations, to hide a mere MOP 21 billion ($2.6 billion) coming from proxy bets, which is the equivalent of the under-the-table operations revealed in the course of the trial.
Alvin Chau Was Arrested in November 2021
Former CEO of Suncity Group Alvin Chau was arrested in November 2021 on multiple charges ranging from money laundering to leading a criminal syndicate. These charges were in connection with Suncity Group’s junket operations.
Chau was arrested as a result of an investigation revealing that the company has been working with a large network of junket agents attracting high-paying customers to gambling holidays in Macau, other Asian countries, and even Australia.
According to the investigation and findings during the trial, it has been indicated that through its side-betting operations Suncity Group has deprived the Macau SAR government of tax revenue amounting to a whopping $1 billion for the period between 2013 and 2021.
The Suncity Group scandal resulted in the company changing its name to LET (Leisure Entertainment Taste) Group and closing its junket business altogether. After his arrest last year, Chau resigned from his position as Suncity Group CEO and chairman.