Epoch Times: Victoria’s Gambling and Casino Control Commission (VGCCC) has fined Crown Melbourne $80 million (US$57.5 million) for organising a scheme that enabled illegal money transfers from China.
The fine was imposed after the VGCCC’s investigation revealed that Crown casino set up a process to circumvent Chinese currency restrictions and allow funds to be transferred out of China illegally, by letting international gamblers use the China Union Pay card from 2012 to 2016.
During that period, the Chinese regime made it illegal for citizens to transfer more than US$50,000 to other countries each year.
The VGCCC said that Crown casino came up with a plan in which it falsely issued hotel room bills to Chinese patrons.
The individuals would then settle the bills with their China Union Pay (CUP) card and receive a voucher acknowledging the receipt of funds.
After that, they would exchange the voucher for cash or chips with the help of a Crown VIP host.
The commission estimated that the scheme processed about $164 million in illegal funds and allowed Crown casino to gain over $32 million in revenue. more
Casinos are the preferred money laundry of the criminal class. Right up there with book deals.
I wouldn’t be surprised if all the blustering and posturing by China to make a move on Taiwan is just a fake out, and their real target is Australia. The reality is both Australia and Taiwan are there for the taking, who is going to stop them? The Australians will roll over faster than the Taiwanese will because the Taiwanese know what is at stake. And the US under current leadership? Unless there’s a center of international corruption in jeopardy we will only send a strongly worded letter voicing our objections.
JP Morgan, Chase and Wells Fargo incur more administrative expenses than that laundering drug money for the cartels. They notify the government, “We think this is drug money.” The gov says, “Thanks for notifying us, you’re doing a great job.”
Should have just laundered it through Ukraine, you know, like American politicians do.