Jewellery Store in Cotai Exposed as Front for Gambling Cash Network

Macau’s Judiciary Police stated that the arrests followed a notification from the Public Security Police regarding an early morning altercation between a casino patron and an alleged money lenderImage Source: Shutterstock.com

Macaulaw enforcement has exposed a jewelry store in Cotaithat served as a cover for unlawful currency exchangeand loansharking activities connected to gambling. The crackdown resulted in the capture of four people, including the store’s manager, two staff members, and a mainland Chinese individual suspected of enabling illegal loans.

Macau Police Raid Reveals Jewelry Shop’s Role in Multi-Million-Dollar Currency Scam

Macau’s Judiciary Police (PJ)reports that the arrests came after the Public Security Police (PSP)notified them about a clash between a casino visitor and a suspected money lender in the early morning of October 5, reported The Macau Post Daily. This altercation led investigators to a jewelry storewithin a hotel in the Cotai area, where the illicit activities were occurring.

Probes showed that while the shop seemed to be a real jewelry business, it had been doing illegal money exchanges through credit card cash-out dealssince February 2024. People would use their cards to make phony buys, and the shop would then give out cash in Hong Kong dollars, ngaking big fees along the way.

Officials reported that the store handled over HKD 27 million ($3.46 million)in such deals, making about HKD 540,000 ($69,000)in unlawful gains. The police operation led to the seizure of around MOP 436,000 ($53,900) in cash, casino chips, and a device to count money. Law enforcement also took several electronic gadgets and bank documents as proof.

Middleman Linked to Gambling Loans Among Four Charged 

Police identified four suspects: Lei, a 48-year-old store manager; Lam, a 32-year-old female salesperson; Hong, a 42-year-old male salesperson; and Wei, a 49-year-old mainland man. Investigators think Weiserved as a middleman connecting gamblers with illegal lenders and money exchange services.

Law enforcement reported that Weihad linked a casino customer to a lenderto fund gambling activities. When the loan did not come through, the customer was asked to do a credit card cash advance at the jewelry store in return for a 10% fee. The person took out RMB 41,500 ($5,720), which was changed to HKD 43,000 ($5,527) in cash, and got HKD 6,000 ($770) as payment before losing the money while gambling. An argument later caused the witness to call thepolice, which led to the arrests.

The PJmentioned that every employee knew the store’s primary operation was unlawful money exchange, not jewelry sales. The authorities now aim to find other people involved and discover potential links to international currency exchange networks.

The Public Prosecutions Officehas ngaken over the case to ngake further steps. The manager and two employees face charges linked to unauthorized currency exchange, while Weistands accused of loan sharking. Law enforcement officials stressed that this operation shows ongoing work to stop illegal financial activitiesconnected to Macau’s gambling industryand safeguard the city’s regulated casino business.