Lost and found

ALLEGED junket thief Huang Shan has been found in Vietnam, fol­lowing a 30-month disappearance with a reported HK$10 billion (US$1.2 billion).
A shareholder of local junket group Kimren Group, Mr. Huang said in a statement yesterday that he is willing to repay all his debts.On Wednesday, local junket operator Heng Sheng Group posted a photo of Mr. Huang with the group’s director Zhang Zheng. The photo caption explains that Mr. Zhang has successfully discovered ‘the genius of Macau gaming industry Huang Shan’.
Mr. Huang, who had been active in the junket business in the city for a few years, is accused of luring his investors by the offer of higher returns. He is alleged to have fled with the money in April 2014.
Yesterday, Heng Sheng Group posted another photo of Mr. Huang alone holding a Chinese-language statement indicating he is now in Ha Long Bay in Vietnam.
According to a copy of the statement obtained by Business Daily, the alleged junket thief said he feels ‘deeply sorry for all individuals who have suffered losses from the Huang Shan incident’.
In addition, he urges all his direct creditors to contact Heng Sheng Group “for going to Vietnam in order to clarify all related accounts and to negotiate appropriate proposals for repayment”.
“I promise I will spend all my revenues generated from [my projects in Vietnam] to repay all my debts,” the statement reads.
In Vietnam “voluntarily”
Speaking to Business Daily, an executive of Heng Sheng Group, who declined to be named, stressed that Huang had “voluntarily” gone to Vietnam with the group “in order to solve his debt problems”.
Asked whether Huang would return to Macau, the executive said:
“It would be up to his own decision”.
He added that the reason Mr. Huang released the statement was to show his sincerity in resolving his debt issues, claiming all parties with direct credit relationship with the junket could meet with him face-to-face without any given conditions.
The Huang Shan incident was the first junket fraud case exposed to the public.
In September last year, local junket operator Dore Entertainment Co. Ltd. said one of its former cage managers had allegedly stolen over HK$100 million, and used her power to illegally pool deposit capital by offering high interest rates without the company’s knowledge. Local police estimated that the case involved at least HK$500 million.
Months after the Dore case, the city’s Judiciary Police confirmed another casino fraud case, with a senior staff member working in the junket operations of Casino L’Arc Macau allegedly embezzling at least HK$99.7 million.
In fact, one month after the Dore incident, the casino regulator – the Gaming Inspection and Co-ordination Bureau – introduced a set of stricter accounting guidelines for all local junket operators.
The guidelines mandate that all junket operators have to compile a monthly accounting report for the Bureau, and that they also have to disclose to the details of the key personnel in charge of the financial operations of the junket firms.