Jewellery Store in Cotai Exposed as Front for Gambling Cash Network

Macau law enforcement has exposed a jewelry store in Cotai that served as a cover for unlawful currency exchange and loansharking activities connected to gambling. The crackdown resulted in the capture of four people, including the store’s manager, two staff members, and a mainland Chinese individual suspected of enabling illegal loans.

Macau Police Raid Reveals Jewelry Shop’s Role in Multi-Million-Dollar Currency Scam

Macau’s Judiciary Police (PJ) reports that the arrests came after the Public Security Police (PSP) notified them about a clash between a casino visitor and a suspected money lender in the early morning of October 5, reported The Macau Post Daily. This altercation led investigators to a jewelry store within a hotel in the Cotai area, where the illicit activities were occurring.

Probes showed that while the shop seemed to be a real jewelry business, it had been doing illegal money exchanges through credit card cash-out deals since February 2024. People would use their cards to make phony buys, and the shop would then give out cash in Hong Kong dollars, taking big fees along the way.

Officials reported that the store handled over HKD 27 million ($3.46 million) in such deals, making about HKD 540,000 ($69,000) in unlawful gains. The police operation led to the seizure of around MOP 436,000 ($53,900) in cash, casino chips, and a device to count money. Law enforcement also took several electronic gadgets and bank documents as proof.

Middleman Linked to Gambling Loans Among Four Charged 

Police identified four suspects: Lei, a 48-year-old store manager; Lam, a 32-year-old female salesperson; Hong, a 42-year-old male salesperson; and Wei, a 49-year-old mainland man. Investigators think Wei served as a middleman connecting gamblers with illegal lenders and money exchange services.

Law enforcement reported that Wei had linked a casino customer to a lender to fund gambling activities. When the loan did not come through, the customer was asked to do a credit card cash advance at the jewelry store in return for a 10% fee. The person took out RMB 41,500 ($5,720), which was changed to HKD 43,000 ($5,527) in cash, and got HKD 6,000 ($770) as payment before losing the money while gambling. An argument later caused the witness to call the police, which led to the arrests.

The PJ mentioned that every employee knew the store’s primary operation was unlawful money exchange, not jewelry sales. The authorities now aim to find other people involved and discover potential links to international currency exchange networks.

The Public Prosecutions Office has taken over the case to take further steps. The manager and two employees face charges linked to unauthorized currency exchange, while Wei stands accused of loan sharking. Law enforcement officials stressed that this operation shows ongoing work to stop illegal financial activities connected to Macau’s gambling industry and safeguard the city’s regulated casino business.