High Stakes Poker Player Paul Phua Arrested for Illegal Betting Racket

News reports state that the FBI has uncovered an illegal gambling racket, running to the tune of millions of dollars, at Las Vegas involving wealthy businessman and high stakes players Paul Phua and Sean Chen (Richard) Yong!

The racket was busted at Caesar’s Palace, Las Vegas, which had informed the police about the wrongdoings in its rooms and is hence not under suspicion. The illegal activity involved betting on the World Cup and a criminal complaint has been filed against the perpetrators, which include Paul Phua and many others.

In a shocking revelation, Phua was identified by the FBI, as Wei Seng Phua, a prominent member of the 14K Triad mob in China, which has been highly active in extortion, prostitution, drugs and arms trafficking.

Paul Phua has been a known face on many international circuits, such as the Aussie Millions and WSOP. Considered one of the wealthiest persons in China, he has almost $3 million in career tournament earnings; though this year he gave the WSOP, $1 million buy-in Big One For One Drop a miss.In the PokerStars and Monte-Carlo Casino European Poker Tour Grand Final €100,000 Super High Roller in April this year, Phua had a 6th place finish, earning €385,000.

Besides Phua and Yong, others arrested were Hui Tang, 44, of China; and Yan Zhang, 40, Yung Keung Fan, 46, and Herman Chun Sang Yeung, 36 of Hong Kong.

The FBI, along with Department of Homeland Security and the Nevada Gaming Control Board, undertook the bust. A month long vigil and undercover operations finally led to the weekend arrest of the group for illegal betting.

The group had reserved 3 premium villas for the illegal activities and used high-end computers, seeking expert technical support for the same. The FBI men posed as technical service agents and trapped the group red-handed.

The law enforcement agencies also raided numerous other resorts in Vegas, arresting many others, after Phua and his gang were marched out of Caesar’s Palace.

Along with Phua and Sen Chen (Richard) Yong, both their sons Darren Wai Kit Phua 22, and, Wai Kin Yong 22 were also arrested.

Attorney David Chesnoff represented Phua in court and denied that Phua had any links with the Chinese mafia. On Monday, Phua and his son posted a combined bail of $2.5 million, along with Phua’s $48 million private jet as collateral. Chesnoff had earlier represented Phil Ivey through a difficult divorce case.

The defendants were charged on counts of unlawful transmission of wagering information and operating an illegal gambling business, for which they face two to five years in prison. They are also liable to face a penalty of $250,000, for each of the above counts.

Paul Phua had earlier been arrested on June 18, by the Macau police for a similar betting racket involving US $645 million in bets on the World Cup, where about 20 people had been caught.

Authorities are seeking to clamp down on the illegal betting market prevalent in Hong Kong, which is estimated to be worth HK$500 billion in turnover, almost 4 times more than racing and betting activities run at the Hong Kong Jockey Club.

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