manxkinho

Rumours abound that a prominent MHK had a police file shoved through their letterbox regarding king. Not sure how true it is, but I’ve heard it said by two different people, so far.

I think that many other financial institutions are looking through their list of gaming related client's accounts and re-assessing their risk profiles. I can't imagine that they're feeling 100% happy at this moment. This particular case shows that there is clearly more to come than we initially thought - I'd imagine the GSC are now backing their collective pants... 😕

https://www.judgments.im/content/CHP24_023-19 Aug 24.pdf seems as if another egaming company that was mentioned in the press is subject to proceeds of crime seizures!

https://www.iomtoday.co.im/news/businesses-linked-to-south-east-asia-defrauded-hundreds-of-millions-of-pounds-734754 wonder which ones?

I think you're mixing up your people smuggling and exploitation / scam rings. Totally understandably too. Ummm. Hang on. Isn't this the Isle of Man?!?!?! 😕

I can't imagine that this going to be a good look. I wonder how many more of them were facing some sort of indictment for fraud (or prosecuted already). Some of them were probably legitimate hires, but you've got to wonder how many were budding or current scam artists coming here.... 😕

Yeah, apparently it involves setting up a scam centre in a business park and promising to build a 70m HQ, so I heard….

The connections that the founder of king has to Zhao Wei are an indication of how much of a bad guy he is: https://en.wikipedia.org/wiki/Zhao_Wei_(gangster) Sounds more and more like the Triads, doesn’t it?

Id seen that before, but it's still really powerful to watch. I can imagine that if the "HQ" had been built, then it'd have followed much of what we saw there - workers effectively trapped, as much a victim as those they were targeting.

I’m thinking that there are a large number of civil servants who are now extremely nervous, almost certainly I agree that they’ll have had back handers to look the other way… Cannan and co are hoping this will go away, it’s totally not going away….

https://www.iomtoday.co.im/news/isle-of-man-referenced-negatively-25-times-in-new-unites-nations-report-on-organised-crime-731342 A report by the United Nations Office on Drugs and Crime (UNODC) on the shifting threat of transnational organised crime, published this month, cites the Isle of Man negatively 25 times. It refers to the proliferation of ‘under-regulated online gambling platforms’ which it says are being used by ‘major organised crime groups to move, launder and integrate billions in criminal proceeds into the financial system without accountability’. The report names the island as one of the jurisdictions that have become hubs for online gaming firms due to their ‘relaxed regulations and the relative ease with which licences can be obtained’. Starting out in casinos and prostitution in the Golden Triangle, the gangs went on to set up a side-business in online cyber scams including one gruesomely known as ‘pig butchering’. .. The report outlines how one gambling company, in the process of building a £70m headquarters in the island, was raided in April this year. Its simple website, designed with limited functionality, was ‘consistent with shell iGaming businesses used as fronts by criminal groups for laundering of criminal proceeds,’ the report notes. Notably, the company’s co-founder had built up strong links in recent years to the Golden Triangle and a Chinese national sanctioned by the US over his organisation’s alleged drug trafficking, money laundering, bribery and human and trafficking of endangered wildlife including Asian black bears, tigers, pangolin, rhinos and elephants.

https://www.iomtoday.co.im/news/king-gaming-saga-has-not-caused-a-wider-impact-on-isle-of-mans-e-gaming-sector-730704 Ummm. Really? Are you sure about this, GSC?

I think it’s too early to say what will happen. Once we know what charges will be laid, that’ll be a different story. Rumours doing the rounds that all directors of king / associated have been named formally as under investigation, but not entirely sure who or how true it is. I’d imagine that it takes a lot of time to get evidence all secured (esp. digitally) before charges can be brought, especially for a case as serious as this. Maybe some people think that the King gaming thing will just go away - I sincerely doubt it!

Living hope could potentially be the next big scandal. A limited company that runs a mega church. Lead pastor getting a house and 100K in salary? I'd be wondering myself how legit that was, potentially, if that were me. Allegedly, of course.

"business friendly" The Isle of Man. Where You Can (make a scam factory).