Philippine Casino Junkets Involved in Ransom on Murdered Chinese Businessman

According to police in the Philippines, two casino junket operators have allegedly received and transferred $3.6 million in ransom money paid by the family of a kidnapped Chinese businessman, Congyuan Guo, who was later found dead.

Businessman Found Dead Despite $3.6M Being Paid

Also known as Anson Tan or Anson Que, the affluent leader of Ellison Steel, a company that supplies steel to the construction and infrastructure sectors in the Philippines, was reported missing along with his driver, Armanie Pabillo, on March 29. The following day, a ransom note was sent to Guo’s family. 

However, on April 9, the bodies of the two men were discovered abandoned on the side of a road in a rural area northeast of Manila. They had been stuffed into nylon bags, with their heads wrapped in duct tape. Authorities reported signs of torture. Police now suspect that the kidnappers never intended to negotiate and that the ransom was simply a diversion. 

According to Brigadier General Jean Fajardo of the Philippine National Police (PNP), the junkets, 9 Dynasty Group and White Horse Club, funneled the money into multiple crypto wallets before it was converted into cryptocurrency. At least five individuals are said to have received the money from the two junkets before it was converted into cryptocurrency, with two of them already in custody. Authorities have stated that they are preparing to file charges against the executives of both junket operations, including money laundering, conspiracy to commit kidnapping, and violations of e-commerce laws.

What Could Have Motivated This?

A source familiar with the case described the killers’ motive as one of “punishment.” Guo was involved in a $20 million online gambling deal that fell through. His partners requested a refund, but he was unable to make the payment. The Manila Times suggested that this was a message to not cross the wrong people, or else you would meet a gruesome end. 

However, Philippine police have already apprehended several people related to the crime. Among them is David Tan Liao, who is thought to have known Guo personally and is suspected of being the mastermind behind the scheme. Two other individuals have been identified but are still at large at the time of writing of this article.