Former Tak Chun Group chair to have reduced jail time, increased financial penalties

Levo Chan, the former chairman of Tak Chun Group, was absolved of all fraud charges by the Court of Second Instance in Macau.

As a result, his prison term was reduced from 12 months to 13 years, and he was also found not to be obligated to make reparation payments to five of the city’s concessionaires. The amount that Chan and the other four defendants owe the Macau government, however, has increased dramatically.

Previously, in April 2023, Wynn Macau Ltd., Sands China, SJM Resorts, Galaxy Entertainment Group, and MGM China were awarded HK$200 million (US$25 million) in damages, and Chan was sentenced to 14 years in prison. Chan and the other four defendants were ordered to pay HK$570 million, or $70.5 million, in total compensation.

Chan and his co-defendants were recently exonerated of fraud charges by the Court of Second Instance, which determined that their appeals had been mostly successful. The court found that the people who were “betting under the table” did so on purpose and that the fraud allegation was not sufficiently supported by the available evidence.

Chan was found guilty of triad activities, illegal gambling operations, and serious money laundering even if the fraud claims were not maintained. As a result, his sentence was decreased from 14 to 13 years. Instead of paying the five concessionaires, the court confirmed that Chan and the other defendants would have to provide the Macau SAR Government with around HK$2.5 billion (US$310 million).

This is similar to the example of Alvin Chau, the former chairman of Suncity Group, where fraud charges were dropped but government compensation was increased.

Original story by: IAG