Macao Embezzlement Ring Busted: 30 Arrested for Swindling 11.6 Billion Yuan

Major Crackdown on Financial Fraud

In a significant effort to combat financial fraud, Macao’s Judiciary Police have arrested 30 individuals, including 12 locals and 18 mainlanders, in connection with an alleged embezzlement ring that swindled 11.6 billion yuan (MOP 14.2 billion) through the illegal use of bank cards.

Gang Tactics Exposed

According to police spokesman Cheong Kam Fai, the ring involved a cross-border gang that tampered with point-of-sale machines in Macao to cheat mainland banks out of service fees. The gang would persuade customers outside casinos to swipe their cards on modified machines, allowing them to withdraw cash in Macao.

Kingpin Identified

The kingpin of the operation, identified as Vong, is a 70-year-old Macao resident who claimed to be jobless. He allegedly operated the ring like a family business, setting up shops in Macao and handing over operations to other members.

Evidence Seized

Police seized a total of HK$8.84 million (MOP 720,000) in cash, casino chips worth HK$1.26 million, electronic equipment, and various bank cards and POS machines during the operation. The mainland police also arrested 39 suspects and seized a large number of bank cards and POS machines.

Operation Details

The Judiciary Police believe that the ring had been operating since 2016, resulting in 69 million yuan in illegal earnings. All 30 suspects were transferred to the Public Prosecutions Office on Tuesday, facing charges of organised crime and computer fraud.

Joint Effort

The operation was a joint effort between the Macao Judiciary Police, the Ministry of Public Security, and the Police Liaison Division of the Liaison Office of the Central People’s Government in the Macao Special Administrative Region.