28th November 2022 – (Hong Kong) Former Suncity Group boss Alvin Chau and many others were suspected of committing the crime of operating casino in China in November last year. After being arrested by the Macao authorities, they are now charged with a total of 289 illegal gambling operations, fraud and money laundering crimes.
Meanwhile, a company initiated a legal action in the High Court last Friday, claiming that Chau and his company had borrowed 300 million Hong Kong dollars last year and had not yet repaid them, so it’s recovering 300 million Hong Kong dollars and 122 million Hong Kong dollars in interest, amounting to a total of 422 million Hong Kong dollars from Chan and his company.
The plaintiff is Champion Trade Group Limited, and the two defendants are Star Soul Investments Limited and Alvin Chau. The filing states that on 30th July, 2021, the first defendant signed an agreement specifying Sun Hung Kai Structured Finance Limited, AG Capital Limited and Lee Shing-hui (transliteration) as the lenders, and the second defendant, Alvin Chau as the guarantor. The loan advanced to the first defendant was HK$300 million. The defendant must repay the 300 million loan, together with approximately HK$13.61 million in interest, on or before 15th December, 2021. However, the defendant did not pay back the money before the deadline. The case continues to point out that by 13th May, 2022, the borrower and the plaintiff have reached an assignment contract, and the borrower would transfer the rights and interests of the above-mentioned debt of 300 million Hong Kong dollars to the plaintiff for disposal. The plaintiff then wrote to the defendant several times asking for repayment, but the defendant(s) still did not pay the arrears. Therefore, the plaintiff filed a lawsuit to recover HK$300 million, and a total of about 122 million Hong Kong dollars in interest, as well as the legal costs derived from this lawsuit.