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Junket Operators Exit PH As AMLC Probes ₱200M Ransom Laundered Through Crypto and Casino Wallets
By: bitpinas|2025/05/16 11:00:12
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The two junket operators linked to the Anson Que kidnapping-slay case have ceased operations in Philippine casinos as the Anti-Money Laundering Council (AMLC) deepens its investigation into the alleged laundering of ₱200 million in ransom money through casino-linked e-wallets and cryptocurrency. Junket Operators Cease PH Operations The AMLC confirmed that both 9 Dynasty Group and White Horse Club officially ended their operations in most, if not all, local casinos as of May 7, 2025. Junket operators act as intermediaries that function as a combination of travel agency, VIP concierge, and a semi-banking institution to casino players. Notably, in a separate statement released on May 6, 9 Dynasty Group, also known as Jiuding Group, also confirmed its exit from the Philippine market. Despite their departure, the AMLC emphasized that as a government agency, it will continue pursuing forfeiture actions and gathering evidence related to the ransom’s conversion and dispersal. Junket operators are businesses that cater to high-rolling gamblers by arranging their visits to casinos, typically providing perks such as travel, lodging, and gaming credit. Serving as middlemen between casinos and affluent, often international, clients, they earn commissions based on the amount their players wager. Accordingly, licensed casino giants Solaire, Okada Manila, and Resorts World are also reportedly cutting ties with these junket operators. Money Trail Investigation In a media release , the AMLC stated that it is coordinating with the Philippine National Police (PNP), the Philippine Amusement and Gaming Corporation, and casino operators to trace the illicit financial flows related to the kidnapping of businessman Anson Que. Authorities say the ransom, originally paid in pesos and U.S. dollars, was converted to cryptocurrency to obscure its trail. According to the PNP, the two junket firms allegedly facilitated the laundering process using e-wallets designed for casino use, shell accounts, and digital assets. Casino patrons tied to these junkets reportedly received portions of the ransom money via these e-wallets, further complicating the transaction chain. The probe also scrutinized the unauthorized use of e-wallets with cryptocurrency features, with the AMLC working in tandem with the Bangko Sentral ng Pilipinas and the Securities and Exchange Commission to address regulatory concerns. In addition, the AMLC is coordinating with foreign financial intelligence units to track the international flow of funds linked to the ransom case. Anson Que Case On April 9, 2025, Chinese Filipino businessman Anson Que and his driver Armanie Pabillo were abducted and found dead in Rodriguez, Rizal, despite a reported ₱200 million ransom payment. Recently, Philippine authorities investigating the case discovered ₱4.5 million in cryptocurrency ransom money was transferred through unlicensed e-wallets linked to the two casino junket operators and then moved through virtual asset service providers. This led to subpoenas for two local crypto exchanges. The PNP highlighted the difficulty in tracing cryptocurrency transactions compared to traditional kidnapping cases. Following Que’s killing, questions arose about whether the PNP could enlist $USDT issuer Tether’s assistance in tracing and recovering the ransom. In a BitPinas article, it was discussed that Tether can technically freeze $USDT linked to illegal activities through blockchain-level intervention, typically following legal or regulatory directives, despite the stablecoin operating on a decentralized network. As the issuer and controller, Tether has this authority and has collaborated with over 235 law enforcement agencies globally to freeze over $2.5 billion in $USDT related to various illicit activities, including terrorism, human trafficking, and money laundering. This article is published on BitPinas: Junket Operators Exit PH As AMLC Probes ₱200M Ransom Laundered Through Crypto and Casino Wallets What else is happening in Crypto Philippines and beyond?
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