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Alleged Triad Boss Freed on Bail in Las Vegas

Newsdesk by Newsdesk
Mon 4 Aug 2014 at 01:21
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With a little help from Phil Ivey and other big-time poker buddies, the five principal defendants in an alleged multimillion-dollar World Cup betting ring that operated out of Caesars Palace have been freed on bail by a US magistrate in Las Vegas.

A federal grand jury sitting in Las Vegas last week indicted eight individuals in the alleged betting scheme, which authorities say stretched to Macau. The suspected ringleader, Malaysian businessman Wei Sent “Paul” Phua—identified in the criminal complaint as a “high-ranking member of the 14K Triad”—was among those released.

The indictment alleges the five ran the operation from 6th June through 13th July, which is the day they were arrested by FBI agents at three high-roller suites at Caesars Palace. The casino was not a target of the investigation.

Celebrity poker shark Andrew Robl posted the US$2.5 million bail set for Mr Phua and his son Darren Wei Kit Phua.

Mr Ivey posted $500,000 of the $1.5 million bail set for a third defendant, Malaysian junketeer Seng Chen “Richard” Yong. Dan Cates, another big-name poker player, agreed to post the remaining $1 million.

Mr Yong is reported to run a lucrative casino junket business in Asia and is well-known on the international poker circuit. His son Wai Kin Yong, also a defendant, was set to be released on $500,000 bail.

Mr Ivey, a 10-time World Series of Poker champion who lives in Las Vegas, said he stepped forward because the Yongs are personal friends. “I have the utmost respect and trust for them,” he told the judge.

A fifth defendant, Hong Kong real estate executive Hui Tang, was ordered released on $1.5 million bond.

Two more big-time poker players, Gabe Patgorski and Tom Dwan, agreed to allow the Yongs and Mr Tang, respectively, to stay at their homes in their custody under court-ordered restrictions that include electronic monitoring, no gambling and no use of devices that access the Internet.

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