Just recently a total of six different operations that involved online casinos in China by the police. The Chinese officials have reported that the police collected no fewer than 2 arrests of the people who were behind this particular illegal online casino operation. They also, incidentally, managed to collect nearly one hundred million dollars. Of course, they used the word “confiscated.” Yeah, I would like to confiscate one hundred million dollars, too! The top officials from the public Security Bureau located in Xianning City have indicated that the raids for the internet casinos came about after a huge and thorough investigation that had been going on for more than one full year.

The investigation had delved into thousands upon thousands of Chinese citizens who participated in gaming at online casinos. The local police chief has noted that the people who were running the online casino gaming sites illegally had managed to accrue more than $7 billion ever since the illegal operations first began back in 2004.

That is a pretty sizeable chunk of change if you ask me. And most of the funds that the casino gambling operation took in have been channeled into overseas gambling operations through an elaborate series of underground money laundering ventures.

And the money that the police were able to get a-hold of is just the remainder of the funds that was left over in the domestic bank accounts. Most of the funds were long gone, having been funneled into banks on other shores. Most of the casino gambling enterprises that this operation involved included card games, horse racing and sports betting. The people behind the scenes would supply their players with credit at crazy rates and this made the whole deal hugely profitable.

Tags: chinese online casino raids

This entry was posted on Friday, June 19th, 2009 at 10:24 pm and is filed under Online Casino. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.