Online gambling, including poker, has always been a contagious issue in China.
Some poker sites are accessible to Chinese players. However, the government is ever so eager to crack down on illegal gambling sites in China.
While the special administrative region of Macau enjoys the advantages of laxer gambling laws, that doesn’t expand to online gambling. However, not everyone knows that.
This is the fact that Chinese scammers exploited recently.
$8 Million is Scammed by Fake Wynn Shareholders in China
A group of conmen, claiming to represent the world famous Wynn brand, tricked over 200 people into “investing” a total of $8 million combined in their fraudulent online casino.
— RS_Moedjito (@RS_Moedjito) January 13, 2020
Wynn Resorts is one of the world’s biggest gambling brands. They own three casinos in the United States, and another three in Macau.
Their flagship property, Wynn Las Vegas in Las Vegas, Nevada opened in 2005. It’s home to the famous mid-stakes poker tournament series every year, the Wynn Summer Classic.
They are undeniably a reputable gambling brand. They would never solicit investments for an online casino in a market where they aren’t legally allowed to operate.
The Chinese News Service broke the news of the scam a few days ago. The online gambling agency concentrating on the Asian markets, GGRAsia, reached out to Wynn Macau for a statement. The statement read as such:
“We are highly concerned by this recently reported incident and we have been liaising with the Macau Gaming Inspection and Coordination Bureau accordingly.
Wynn Macau does not engage in any online investment or gaming sites. We encourage the public to be extremely wary of any sites claiming to have a connection with Wynn.”
Potential Death Penalty for the Macau Wynn Scammers
Unfortunately, very little information about the criminals was released by the central Chinese news agency. The Chinese government isn’t exactly known for its transparency.
However, we can state for certain that if the authorities do catch them, they can’t expect to get off with a light sentence. They may even get the death penalty.
Yes, currently the Chinese criminal code lists “investment fraud/fraudulent fundraising” as one of the nine capital offenses. That perfectly describes how these scammers stole $8 million from over 200 gullible people.
On the other hand, this could make for a great cautionary tale for people looking to invest in the gambling industry. While most actors are completely legitimate, make sure you’re not getting “bluffed”!
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