Junket promoter fled Macau with HKD10b found in Cambodia

A former Macau junket promoter Huang Shan, a 40-year
old mainland resident from  the  Guizhou province was arrested in Cambodia yesterday morning. He had fled from Macau after stealing HKD10 billion from gaming investors.
The Macau Gaming Information Association (MGIA) revealed that Huang is currently in custody in Ha Long Bay, Vietnam. Huang’s capture in Cambodia comes more than 900 days after his getaway from Macau.
Huang came to the city a few years ago and became involved in Macau’s gaming industry, having had broad and well-developed relationships with mainland senior government officials and businessmen.
Holding a license as a junket promoter, Huang became active in casino VIP rooms, attracting a great number of mainland high-rollers.
In order to lure individuals into investing large amounts of money in the VIP rooms, Huang offered a 2.5 percent monthly interest rate to his investors. The high interest rate proved to be enticing to investors, including many petty urban bourgeois from Macau and the mainland, which allowed Huang to raise HKD8 to HKD10 billion within a short period of time, according to a report by Apple Daily.
In April of 2014, Huang fled Macau with billions stolen from VIP room investments. The case was revealed in the following month, upon which the casino stock prices took a downward turn, falling for several consecutive days.
Huang was found in Cambodia by three men who have been tracking him for 28 months. Huang, upon his capture, wrote a statement saying he is willing to give all the money back to his creditors, and expressed his “late, sincere apology to my friends from all sectors that suffered from the loss.” He invited all his creditors to come to Ha Long Bay in Vietnam to discuss arrangements for payment plans, and promised to repay all the debts.
Previously, many mainland investors and triad members had Huang put on a wanted list in order to have him apprehended as soon as possible. An unnamed investor even offered HKD100 million as a reward to anyone who found Huang, according to a report by Apple Daily.