The Macau Judiciary Police (PJ) have successfully dismantled an alleged illegal currency exchange syndicate operating under the guise of a legitimate jewelry business within a Cotai casino hotel.
The operation, which reportedly facilitated unauthorized transactions totaling approximately HK190million(US24.3 million), led to the immediate arrest of two local sales employees and the detention of two mainland gamblers.
According to the initial investigation reports, the jewelry shop had been functioning as a front for illicit money exchanges since July of this year. Authorities estimate that the operators generated roughly HK$5.8 million in illegal profits during this period. The scheme primarily involved assisting gamblers in converting Renminbi (RMB) into Hong Kong dollars for immediate use on the casino floor.
The two arrested staff members, identified as a 30-year-old surnamed Chen and a 29-year-old surnamed Law, allegedly received fixed monthly salaries to conduct these unauthorized transactions. The investigation revealed that mainland clients utilized QR-code transfers to send RMB to the shop’s accounts, receiving the equivalent in HKD cash moments later.
Acting on intelligence received in mid-November, officers executed a raid late in the morning, intercepting the suspects and clients simultaneously at the shop and on the casino floor.
During the operation, police seized significant evidence, including HK840,950 in cash, RMB9,600, multiple mobile phones ,and a bank note counter. While one of the detained gamblers still possessed HK500 in chips, the other had already lost all the exchanged funds.
The case has been forwarded to the Public Prosecutions Office for further legal action. Meanwhile, the Judiciary Police are actively pursuing the shop owner, who is believed to be the mastermind behind the illegal enterprise.
Macau Judiciary Police (Investigative Report):
“The jewellery shop is suspected of facilitating illicit money exchange for gamblers since at least July this year.”
