Sing Tao Daily<\/em>)<\/figcaption><\/figure>\nMillionaire Linong Ma, a resident of both Hong Kong and Shanxi province in mainland China, alleges one of the junketers, Xiongming Xie, has links to organized crime. The lawsuit accuses Xie and his associate, Zhuangqian Fang, of fraud and SkyCity of negligence and breach of trust in relation to the missing millions.<\/p>\n
According to the complaint, in May 2019, Ma visited SkyCity to gamble as part of Fang\u2019s junket. But Sydney-based Xie was in fact organizing proceedings using China-based Fang\u2019s junket license.<\/strong><\/p>\nAccording to court filings, Xi is banned from every casino in Australia and has \u201csubstantial gambling debts.\u201d<\/p>\n
$5 Million Winning Streak<\/strong><\/h2>\nChinese VIPs typically pay money to junkets via bank transfer prior to their trip. This gives them credit in the form of non-negotiable \u201crolling chips\u201d at a casino VIP room, circumventing the strict controls on the movement of large amounts of money out of China.<\/p>\n
Casinos partner with junkets and usually pay them a monthly commission, provided the gamblers they bring generate a minimum guaranteed rolling chip turnover. The junkets will settle up once the wealthy gamblers have returned to China.<\/p>\n
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Ma hit SkyCity on May 21, 2019 in the company of a Ms. Goh, who was \u201cemployed or engaged by Mr. Xie as an escort or hostess for high-rollers,\u201d according to the lawsuit. Joining them was a Ms. Zhang, who also appeared to be in the employ of Xie.<\/p>\n<\/div>\n
Ma initially withdrew A$400,000 (US$310,000) in chips to play baccarat and promptly lost A$370,000 (US$286,720).<\/p>\n
The next day, he reloaded with another A$600,000 (US$465,000) worth of chips and went on a winning streak, amassing chips to the value of A$5,048,500 (US$3,900,000) on top of his stake.<\/strong><\/p>\n