Paul Phua arrested in Las Vegas for illegal bookmaking

Paul Phua, Richard Yong, and 6 other Malaysian and Chinese businessmen were arrested by the FBI this weekend, on the charges of facilitating a multi-million dollar illegal sports betting operation. Darren Wai Kit Phua, Phua's son was also arrested.

The FBI suspects that Phua is a very high-ranking member of one of the biggest crime organizations in the world, called the 14K Triad. The 14K Triad specializes in illegal gambling and prostitution.

David Chesnoff, one of the most famous criminal attorneys in the USA, is representing Phua. Interestingly, Chesnoff was the lawyer who represented Ivey during his divorce also.

Phua was released upon posting a $2 million bail and fortfeiting his $48 million private jet as collateral.

Members of the poker community were gathering assets to help with Phua's bail, Andrew Robl was willing to put up $1.5 million by himself.

Phua and more than 20 others were arrested in the middle of June in Macau for running an illegal gambling operations that took bets on the World Cup worth hundreds of millions of dollars, that also included a single wager of $51.5 million.

Following their release in Macau, Phua and his associates flew to Las Vegas, where they allegedly continued their illegal gambling operation.

The group reserved three high roller suites at Caesars Palace, and requested a large amount of electronics equipment. Caesars technicians then informed the FBI, which sent undercover agents disguised as electrical and computer experts to the hotel, where they witnessed the operation.

Paul Phua has been playing the highest stakes cash games for years now, and recently he started to participate in the Super High Roller tournaments. His best result was winning the £100,000 buyin Aspers High Roller in London for £1 million.