The Wenzhou City Prosecutor’s Office has issued an arrest warrant for Alvin Chau, CEO of Suncity Group Holdings, for allegations of cross-border gambling activities.
China.- Chinese media have reported that an arrest warrant has been issued for Alvin Chau, CEO of Suncity Group Holdings. Wenzhou City Prosecutor’s Office in Zhejiang Province appears to be accusing him of being involved in cross-border gambling activities.
The Wenzhou City Procuratorate started to investigate a cross-border gambling criminal syndicate in July 2020 and claims to have discovered that Chau was the leader.
In September, Chau sold his entire stake in the financial services firm Sun International for just over AU$9m. His shares were bought by Fresh Success Investments, which must make a mandatory takeover offer for the outstanding shares in Sun International at HK$0.10 a share.
(To be updated)