Macau’s Court of First Instance has ordered local resident Chao Ioc Mei to repay junket operator Dore Entertainment a total of MOP 103 million (US$12.9 million), local media reports.
Ms. Chao had allegedly absconded with several hundred million last year from Dore Entertainment Co. Ltd, using her position to illegally pool deposit capital by offering high interest rates without the company’s knowledge.
The court’s notice states that Ms. Chao has to repay MOP 103 million to Dore, as well as an annual interest of 6 percent on the outstanding money.
Dore would also have the legal right to request the seizure of Ms Chao’s assets should she be unable to repay the money.
The court’s order will come into force 30 days after the issuance of the second notice.
Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.
ASIA GAMING BRIEF
PO Box 1139, Macau SAR
Tel: +853 2871 7267
Fax: +853 2871 7264