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A Chinese businessman gambles over $300 Million in 82 minutes at SkyCity Casino

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A Chinese national, William Yan managed to gamble an astronomical $300 million in only eighty two minutes at SkyCity! Even more interestingly, Yan is a wanted man although he has lost millions of dollars in just less than 2 hours. The police have reason to believe that Yan, who has acquired a New Zealand citizenship, has acquired that cash through money-laundering. He moved to New Zealand in 2001 from China. The High Court at Auckland recently heard that he acquired a lot of his wealth through laundering in his home country, China. His  asserts  have since been  frozen, these includes cash, wine, luxury cars, jewellery, and an 18.8 per cent share in Kim Dotcom’s troubled company Mega Upload.

New Zealand Herald has reported that William Yan, also known as Bill Liu, is also wanted by the Chinese police. The law men from China claim Mr Yan stole the money while working as chairman of a pharmaceutical company in 2000. It is also believed that Mr Yan’s gambling habit and his extravagant lifestyle are the centre of the inquiry. According toreports, in one night over $2 million was transferred via a foreign exchange dealer to the account belonging to Yan’s wife. It is believed his wife deposited bank cheques into SkyCity accounts and 30 minutes later over $400 000 worth of cash and chips were withdrawn inside the casino.

Image of SkyCity Gambler

SkyCity deny any involvement

A spokesperson from SkyCity Casino was quoted by New Zealand Herald;

“…SkyCity has world-leading host responsibility initiatives to identify and monitor customers who may be in difficulty or who need our help. We don’t discriminate between customers in our VIP lounges or the main gaming floor; all receive equal attention.

“It is important to note, however, that the level of play will vary tremendously depending on the financial circumstances of a customer, and it is not necessarily unusual for a wealthy VIP player to generate significant turnover.”

Despite this, the Kiwi authorities have not stopped investigating the Casino and reports say they are watching most high-rollers closely. At this moment a trial date is yet to be set as the prosecution continues to sniff every bone they come across.

When contacted for comment, Mr Yan’s Lawyer, David Jones, declined to comment while no charges have been laid against Yan who denies doing anything wrong.