Three More Caesars Palace Arrestees Are Free on Bail, Thanks to Poker Pros
Three more men arrested in the Paul Phua sports betting case have been released on bail, thanks to the professional poker player community. The bail money was posted by Phil Ivey and Dan Cates. In total, the two men posted $3 million in bail for the three men, who are said to be buddies from high-stakes poker sessions over the years.
Seng Chen “Richard” Yong
Two gamblers paid a combined $1.5 million to bail out Seng Chen “Richard” Yong, a 56-year old Malaysian man known to the world of high stakes poker. Richard Yong is said to be a junket operator in Malaysia.
Phil Ivey is said to have paid $500 thousand of Yong’s bail money. Dan Cates, who’s made $7 million lifetime playing online poker on PokerStars and FullTilt Poker, paid the remaining $1 million of the total.
Wai Kin Yong’s Bail Money
Phil Ivey put up another $500 thousand to bail out Richard Yong’s 22 year old son, Wai Kin Yong. The Las Vegas Review-Journal quotes Phil Ivey in yesterday’s newspaper saying he has “the utmost respect and trust” for Mr. Yong, so he does not mind putting up the bail money for his friend. If Yong and son appear for the trial, then Ivey will have the bail money returned to him.
It might help to know that Mr. Yong has $2 million in the safe at Caesars Palace, if Yong’s story to the Las Vegas Review-Journal can be believed. Presumably, he has the money to cover and expenses in the meantime, while he has the bail money covered, if something were to happen.
Hui Tang Bail Posted
Hui Tang, a third man in the case, is also free on bail. Hui Tang is listed as a 44-year-old Hong Kong property developer. In an impressive display, Hui Tang posted his own $1.5 million in bail.
Details of the Case
Richard Yong, Wai Kin Yong, and Hui Tang are three of the eight men who were arrested at Caesars Palace in Las Vegas in mid-July for allegedly running an international sports betting ring. The men had rented three luxury villas at the Las Vegas Strip casino and were, according to staff at Caesars, behaving in a way consistent with running a sports betting syndicate. They had banks of television monitors watching the 2014 World Cup in Brazil.
The FBI believes Paul Phua was the ringleader of the bunch. Phua is a poker professional, a noted whale in high-stakes ring games, and the reputed owner of the online gambling site, IBCBet. Phua is said to be worth $400 million and, at one point, was using his $40 million private jet as collateral in case he fled the country.
Discrepancies with Phua’s Whereabouts
On some online news sites, it is reported that the Phuas are wearing ankle bracelets and are under house arrest with a local gynecologist who enjoy playing poker. This was the case briefly, but according to Phua’s lawyers, father and son are being held by ICE, an agency of the U.S. federal government under the auspices of the Homeland Security Department. Paul Phua’s lawyers have complained about the incarceration, and their inability to communicate with their clients in a timely manner.
Richard and Wai Ken Yong File Motion
The father and son of the Yong family are staying at the home of Gabe Patgorski, a poker professional living in Las Vegas. Hui Tang is living with Tom Dwan, who was in one of the suites when the FBI raided the alleged gambling operation. Mr. Dwan, also a poker pro, signed an affidavit which was critical of the tactics used by the FBI in making the arrests.
Lawyers for Wai Kin Yong filed a motion asking for charges to be dropped against him. The FBI found a laptop computer with the user name “WaiKin” on it in the room where the activities were taking place, but the younger Yong claims his name was assigned to the computer, because he bought it as a gift for his father and set it up for him in advance. A Facebook post from November 2013 is being cited as evidence that the laptop was a gift. According to reports, Wai Kin Yong’s computer was found in another room, which did not have betting activity taking place.
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