Jewelry Store in Cotai Uncovered as Hub for Illegal Gambling-related Money Activities

Macau Authorities Uncover Jewelry Shop’s Role in Illegal Money Exchange

Macau’s law enforcement recently uncovered that a jewelry store located in the Cotai district was secretly involved in illegal currency exchange and loansharking tied to gambling operations. This discovery led to the arrest of four individuals, including the store’s manager, two sales staff, and a mainland Chinese national believed to be facilitating unlawful loans.

Investigation Traces Illegal Currency Operations to Cotai Jewelry Store

According to Macau’s Judiciary Police, the investigation was prompted by a report from the Public Security Police following a confrontation between a casino visitor and a suspected money lender in early October 2024. This incident directed police attention to the boutique inside a Cotai-area hotel, revealing ongoing illicit activities.

Further inquiries showed the store was operating beyond its legitimate jewelry business by conducting unauthorized money exchanges through credit card cash-out schemes since February 2024. Customers would make false purchases with their credit cards, receiving cash payments in Hong Kong dollars from the shop, which profited by charging substantial fees.

Authorities estimate the shop processed over HKD 27 million (approximately $3.46 million) in such unlawful transactions, generating illegal earnings around HKD 540,000 (about $69,000). The police seized a significant amount of cash, casino chips, money counting machines, and multiple electronic devices along with banking documents as evidence.

Four Suspects Including Middleman Arrested in Connection With Gambling Loans

The suspects include Lei, the 48-year-old store manager; Lam, a 32-year-old female employee; Hong, a 42-year-old male employee; and Wei, a 49-year-old man from mainland China. Wei is believed to have acted as an intermediary, linking gamblers with illegal lenders and money exchange services.

Investigators reported that Wei facilitated a casino patron’s connection to a lender, intending to finance gambling. When the loan failed, the customer was compelled to perform a credit card cash advance at the jewelry store for a 10% fee. The customer withdrew RMB 41,500 (about $5,720), converted it into HKD 43,000 (approximately $5,527) in cash, and received HKD 6,000 ($770) before losing the money gambling. A dispute following this transaction ultimately led a witness to alert the police, resulting in the arrests.

Authorities stated that all staff members were aware that the store’s main operation was money exchange rather than jewelry sales. The police continue investigating to identify additional parties involved and examine possible connections to wider international money exchange networks.

The Public Prosecutions Office has assumed control of the case. Charges against the manager and employees relate to unauthorized currency exchange while Wei faces loan sharking accusations. Officials emphasized that this case highlights ongoing efforts to combat illegal financial activities linked to Macau’s gambling sector and protect the integrity of the regulated casino industry.