Authorities in Macau have revealed that Levo Chan Weng Lin is accused of leading a triad gang.
Macau.- Police in Macau have said that Levo Chan Weng Lin of being the leader of a triad gang. It was initially reported that the former CEO of Macau Legend and chairman of Tak Chun Group had been arrested on money laundering charges, which carry a maximum sentence of eight years in prison. However, if he’s convicted of leading a triad gan, he could face up to 15 years.
Lin is also charged with operating an illegal gambling business and of illegally running gambling operations in a casino, both of which carry three years in prison. Macau authorities had been investigating Chan Weng Lin’s activities since November 2021, following the arrest of Suncity Group chief executive Alvin Chau and 10 others. Prosecutors said the two cases involved different criminal groups but that there was evidence they had been working together.
A total of 15 people were detained in November in connection with the investigations, six of whom are still under pretrial arrest, according to the Macau Prosecutor’s Office.
Macau Legend Development said in a statement: “The Board is of the view that as the group is operated by a team of management personnel and the above incident relates to the personal affairs of Mr Chan and not related to the group, the Board does not expect the above incident to have a material adverse impact on the daily operations of the group.
“The Board will closely monitor and review the situation and make a further announcement(s) as and when appropriate.”
Macau Legend Development’s shares closed down 19.3 per cent on Monday at HK$0.46 (US$0.05899), down HK$0.11.