Former Macau Chinese Bank CEO arrested for fraudulent false claims of casino loans

According to news reports from the gambling hub, the former president of the Macau Chinese Bank has been arrested for fraud.

He is charged with getting fictitious loans for projects involving supposed casinos in Macau, which defrauded the bank of about US$62 million.

Prosecutors said that a portion of the fraudulent loans were connected to nonexistent construction projects at well-known casinos, including the Londoner, Venetian, Grand Lisboa, Treasure Island, MGM, and Wynn.
 
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