Macau junket mogul Levo Chan Weng Lin, who was remanded in custody for alleged money laundering, illegal gambling and organised crime by the Public Prosecutions Office (MP) on January 30, “has tendered his resignation as an executive director, the co-chairman of the Board and the chief executive officer” of Macau Legend Development Limited “with effect from January 31, 2022”, the company said in a statement posted on the hkexnews website last Tuesday.

According to the statement, Chan tendered his resignation “so as to avoid distraction to the Company and for the interest of the shareholders of the Company as a whole.”

The statement underlined that “Chan has confirmed that (i) he has no disagreement with the Board and there are no matters relating to his resignation that need to be brought to the attention of the shareholders of the Company; and (ii) he has no claim whatsoever against the Group...”.

The statement added that “the Board would like to take this opportunity to express its gratitude and appreciation to Mr Chan for his contributions to the Company during his tenure of services.”

The statement was issued by David Chow Kam Fai, chairman and non-executive director of Macau Legend Development Limited” on behalf of the company. Chow is a former Macau lawmaker.

Macau Legend Development describes itself on its website as an investment holding company that is “one of the leading owners of entertainment and leisure facilities in Macau.” According to the website, its investments include the Fisherman’s Wharf entertainment complex in Macau’s harbour, while its businesses include the “provision of gaming services” at three casinos owned by gaming concessionaire SJM in Macau.

Chan, 49, is the boss of Tak Chun Group, one of Macau’s top two junket operators. Macau’s Judiciary Police (PJ) said at a press conference on January 30 that Chan was arrested in the wake of investigations into business activities by Suncity, Macau’s other top junket operator, whose boss, Alvin Chau Cheok Wa was remanded in custody last November for suspected money laundering, illegal gambling and organised crime.

Junket operators are officially known as gaming promoters in Macau. They are also understood to run a string of so-called VIP rooms for high-stakes gamblers at local casinos in cooperation with the owners of the respective casinos.

A government-initiated gaming industry amendment bill currently under review by a standing committee of the local legislature proposes to tighten the government’s monitoring of Macau’s gaming businesses. The bill is widely expected to be passed by lawmakers before the second half of the year.

HK politician Maria Tam quits Macau Legend

Meanwhile, the board of directors of Macau Legend Development Limited said in a statement to the Hong Kong Stock Exchange on Friday that Maria Tam Wai-chu “has tendered her resignation” as an independent non-executive director of the company with effect from February 3 (the third day of the Chinese New Year) due to “personal reasons”.

Tam is a prominent politician and lawyer in Hong Kong. She has been a member of the Committee for the Basic Law of the National People’s Congress Standing Committee (NPCSC) since 1997 and the chairman of the Operations Review Committee of the Independent Commission Against Corruption (ICAC) since 2015.

The statement said that Tam “has confirmed that she has no disagreement with the Board and there are no matters relating to her resignation that need to be brought to the attention of the shareholders of the Company.”

Levo Chan facing long jail term

Meanwhile, the Public Prosecutions Office (MP) said in a statement last Monday that a male suspect surnamed Chan, who has been remanded in custody, faces four charges for the alleged crime of heading a criminal organisation, punishable by up to 15 years’ imprisonment; alleged money laundering, punishable by up to eight years behind bars; and two alleged crime concerning different aspects of illegal gambling operations, each punishable by up to three years.

While the MP statement did not identify Chan by his full name, public broadcaster TDM and other local media identified him as junket mogul Levo Chan Weng Li.

According to the statement, three other suspects – two males surnamed Choi and Chow and a female surnamed Chan – have been released on their own recognisance but are subject to a raft of coercive measures to stop them from fleeing Macau and disturbing the ongoing investigations into their alleged crimes. While Choi faces a charge of disobedience, Chow and Chan (the female suspect) face charges for alleged aiding and abetting.

The statement underlined the four suspects’ cases are suspected to be connected to 11 other suspects’ cases discovered by the law enforcement authorities last November. According to the statement, six of the total number of 15 suspects have been remanded in custody.

Those in pre-trial detention in Coloane prison include junket bosses Levo Chan and Alvin Chau, heads of junket companies Tak Chun and Suncity respectively, as well as two prominent local businessmen surnamed Sio and Kwan, according to local media reports.