The U.S. Federal Bureau of Investigation has shut down a multimillion-dollar illegal sports betting operation at Caesars Palace. According to the Las Vegas Review-Journal, the ring was operated by Malaysian and Chinese nationals who took bets on World Cup soccer.
Among those nabbed in the sting is Paul Phua, who has been linked to a well-known Chinese crime syndicate known as 14K Triad, one of the largest criminal syndicates in the world. The organization deals in drugs, prostitution and loan sharking as well as illegal gambling, reported law enforcement. Phua and his son Darren Wai Kit Phua were among eight people arrested by FBI agents.
Father and son were released from custody on more than $2 million bail, and Phua also was required to put up his $48 million private jet as collateral.
