High-Stakes Poker Player Paul Phua Arrested in Illegal World Cup Betting Raid
Paul Phua, a wealthy Chinese businessman and a regular in Macau’s high-stakes poker cash games, was one of eight people arrested over the weekend for allegedly running an illegal betting operation at Caesars Palace in Las Vegas.
The Las Vegas Review-Journal reports that Phua and seven other Chinese Nationals were taking illegal World Cup wagers when the operation was raided by FBI agents. Sources said that the arrests were made at other resorts along the Vegas Strip after the alleged offenders were kicked out of Caesars Palace.
Caesars Palace was not a target of the law enforcement action and cooperated with state and federal authorities, according to the Review-Journal.
The eight defendants are expected to appear in federal court Monday in Las Vegas. Phua will be represented by David Chesnoff, the same attorney who represented Phil Ivey during Ivey’s messy divorce case.
Phua has played in the world’s biggest cash games for several years and has also traveled to play in several high roller tournaments. In April, he finished sixth in the PokerStars and Monte-Carlo® Casino European Poker Tour Grand Final €100,000 Super High Roller for €385,000. He has four live tournament cashes listed on the Hendon Mob, all for more than $340,000.
We will have more on this story as it develops.