Four local men were arrested on Monday for engaging in illegal currency exchange activities that involved a total of HK$300 million (309 million patacas), Judiciary Police (PJ) spokesman Cheong Un Hong said during a special press conference yesterday.
Cheong identified the suspects as a 30-year-old watch buyer surnamed Chan, two 32-year-old men surnamed Ao and Ieong, and a 30-year-old male surnamed Chong. Ao, Ieong and Chong told the police that they are jobless.
Cheong said that Chan purchased watches on the behalf of other people.
According to Cheong, in November, the police discovered Chan, Ao, Ieong, and Chong engaging in illegal currency exchange activities in Macau. The police noticed that Chan and Ao were key members of the gang who recruited Ieong and Chong to seek clients for currency exchanges.
Beginning in November 2023, Chan and Ao conducted illegal currency exchanges with gamblers in various casinos, hotel guestrooms, or inside their own cars. They also rented a flat in Coloane to hide their funds. Later, Chan and Ao recruited two lower-level members, Ieong and Chong, providing them with illicit cash while instructing them to carry out illegal currency exchanges with gamblers in local casinos.
Cheong added that there were six witnesses who had previously engaged in currency exchange deals with the gang, three of whom had exchanged currency with the suspects between Friday and Sunday, amounting to over HK$7 million. Reportedly, the suspects earned HK$230,000 from these deals.
Cheong said that the gang had been participating in currency exchange activities since November 2023 and shared the profits equally. Since the Law on Combating Illegal Gambling Crimes took effect on 29 October last year, the total amount of illicit exchange transactions conducted by the gang reached HK$300 million, with estimated illegal profits of HK$10 million.
Cheong noted that Chan, Ao, Ieong, and Chong were separately arrested on Monday in Taipa and Coloane. The police seized HK$150,000 in cash, HK$1.4 million in casino chips, eight POS (Point of Sale) machines, a large number of POS transaction receipts, two computers, and seven mobile phones from their flats and cars. Under questioning, all suspects refused to cooperate.
The four suspects were transferred to the Public Prosecutions Office (MP) yesterday, each facing a charge of illegal currency exchange, according to Cheong.
Judiciary Police (PJ) officers escort the hooded suspects to a PJ van outside the PJ headquarters in Zape yesterday. – Photo: Ada Lei
