Singapore High Roller Denies Lying About $30M Debt
A wealthy Singaporean has refuted claims that he "lied" in court regarding a AU$40 million credit li..
Today, seven people who had been arrested showed up in Maylasia court for their initial hearing on charges related to illicit gambling. That comes after two condominiums in Kuala Lumpur were the target of a targeted raid. One of the people detained is fourteen years old. They are accused of breaking several parts of Malaysian law, such as the Penal Code and the Common Gaming Houses Act 1953 (CGHA), which deals with overseeing public gaming establishments.
A maximum six-month prison sentence is another possible outcome of the charges. Under Malaysian law, the 14-year-old suspect is likewise subject to imprisonment.
In addition, the suspects are charged with criminal conspiracy under Penal Code Section 120(B). People who are charged under Penal Code Section 420 are said to have committed fraud. Penalties for violating Section 420 of the Penal Code include up to seven years in prison and a fine. The CGHA carries a maximum fine of MYR5,000 (US$1,056) for violations.
The gambling ring allegedly made about MYR13 million (US$2.74 million) every month, according to the police. According to Malaysian media outlet Bernama, the operation, which was disguising itself as a call center, mainly targeted foreigners and Malaysians, tempting them to engage in illicit online gambling.
The Anti-Vice, Gaming, and Secret Societies Division was in charge of the raid.
On October 5, the Royal Malaysia Police took down an illegal internet gambling network. The operations of the ring are still being looked into by the authorities.
Authorities say that the goal of dismantling the ring is to spread awareness of the nation's campaign against illicit gambling.
Another instance of underage gambling made headlines last month. An anonymous mother talks about taking her 8-year-old daughter shopping in a Facebook post. Her daughter took out MYR1,500 (US$316.80) during the trip. The girl was given a weekly allowance of only MYR50 (US10.56).
Subsequently, the girl disclosed that she had started gambling at school, which, based on her reports, appears to be a regular activity there.
A wealthy Singaporean has refuted claims that he "lied" in court regarding a AU$40 million credit li..
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