SGR News: Australian casino inquiry puts spotlight on Chinese money laundering - 4th Apr 2022, 10:31am

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For decades, billionaire property developer Phillip Dong Fang Lee was a VIP at the Star Entertainment Group casino in Sydney’s glitzy Darling Harbour district, racking up millions of dollars playing baccarat shoulder to shoulder with other Chinese tycoons. The inquiry in Australia has revealed that about A$900mn ($674mn) of transactions have been processed in Star’s casinos using China UnionPay—China’s version of Visa and Mastercard — by gamblers. The use of the payment ...

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