A review has not noted any irregularity in the dealings between the company and Levo Chan Weng Lin or his related entities.<\/p>\n\n\n\n\n\n\n\n
Macau.- Macau Legend Development Co Ltd<\/strong>\u00a0has announced the results of a review by an\u00a0independent consultant<\/a> into the impact on the company from the arrest of former CEO Levo Chan Weng Lin. The consultant had been appointed on March 5.<\/p>\n\n\n\n According to Macau Legend, the review found that while there were recurring and non-recurring business dealings between the company and Levo Chan Weng Lin,\u00a0it did not find any irregularities in these.<\/p>\n\n\n\n Chan Weng Lin<\/a> <\/strong>was arrested in January together with another man for allegedly engaging in illegal gambling activities, running a crime syndicate and money laundering<\/strong>. He resigned as CEO of Macau Legend soon afterwards with Melinda Chan Mei Yi<\/a> returning to replace him.<\/p>\n\n\n\n As no irregularity was identified in the dealings between the Company and Chan or his related entities, Macau Legend said the special committee appointed to maintain clarity in the review process was of the view that the incident had no significant impact and does not affect the company’s business operations.<\/p>\n","protected":false},"excerpt":{"rendered":" A review has not noted any irregularity in the dealings between the company and Levo Chan Weng Lin or his related entities.<\/p>\n","protected":false},"author":176,"featured_media":19652,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Macau Legend Development Co Ltd's independent review found no irregularities in its business dealings with former CEO Levo Chan Weng Lin, despite his arrest for alleged illegal gambling and money laundering. The company's special committee concluded the incident has no significant impact on its business operations.","focusai_entities":"Macau Legend Development Co Ltd, Levo Chan Weng Lin, Melinda Chan Mei Yi","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.9), operator_casino (0.8), payments_fraud_aml (0.85), investor_analyst (0.95), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Review Scope & Access?","query":"What were the specific parameters of the independent review, and what level of access was granted to financial records, communications, and operational data to ensure a comprehensive assessment?"},{"label":"Licensing Impact?","query":"How will this incident, despite the 'no irregularity' finding, impact Macau Legend's future B2B\/B2C licensing renewals or expansion efforts in other regulated jurisdictions, given the heightened scrutiny on executive conduct?"}],"footnotes":""},"categories":[16338,156,158],"tags":[22593],"class_list":["post-30038","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-regulation-news","category-slider-home","tag-macau-legend"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/30038","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=30038"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/30038\/revisions"}],"predecessor-version":[{"id":30062,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/30038\/revisions\/30062"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/19652"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=30038"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=30038"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=30038"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}