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Official sources not authorised to comment publicly say ACIC investigations into Cheng allege he is involved in “orchestrating large-scale money-laundering activity in Australia and the sourcing and distribution of online casino australia heroin both in Hong Kong and overseas”. Anti-money-laundering agency Austrac, which also has a representative on the ACIC board, warned last year in a heavily redacted report that high-roller operations were also suspected of funding foreign interference operations. Chau’s operation also gave him the ear of the Chinese Communist Party elite who didn’t mind a punt and who, Australian authorities suspected, may also have wanted to quietly move large amounts of money to Australia. Chau’s Australian business flourished between 2012 and 2019, helping to earn him enough capital to finance action movies in Hong Kong and major casino projects in Russia and Asia. After 30 years old, I began to have some thoughts and goals,” Chau said of the growth of his gaming empire in a Hong Kong media interview in 2017.
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By the late 2000s, almost every major Macau casino had a Suncity high-roller room where Chau’s clients could gamble huge amounts in luxury settings, away from the prying eyes of mainland authorities. But the full story of Chau and his gambling junket operation, Suncity, is also a tale of financial and organised crime in Australia, and the work of a mostly hidden federal agency, the Australian Criminal Intelligence Commission. On November 27, staff working for the most colourful man in international gambling were led out of his Macau office handcuffed and wearing black hoods. Sign up to our email list to know about new releases, exclusive offers and more.
Oscar Ledlin, who ranks number 55 on the Young Rich List, has launched a company specialising in sustainable concrete production, with ambitions to IPO. The cryptocurrency gaming start-up is backed by some of the country’s best-known venture capital funds and says it has significantly reduced its cash burn. The company had already been heavily sold off over the year, with Trump administration trade policies increasing the cost of its products and hurting sales. The definitive list of our next generation of entrepreneurs, aged 40 and younger.
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The club, in the city’s south-west, is one of the biggest in terms of gaming machines profit. Mounties, which owns 10 venues across NSW, is the biggest club owner in the state by gaming machine profit. AUSTRAC chief Brendan Thomas is worried about the exposure of tech unicorn Airwallex to money mules, who use fake accounts to funnel child sex payments.
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