Gambling suspect says he has Macau casino income

Gambling suspect says he has Macau casino income
Written by Brett Kelman
Pacific Daily News

A suspect accused of being a central figure in an alleged illegal gambling ring has claimed to have partial ownership of a legal casino in the Chinese peninsula of Macau.

Shortly after FBI agents raided the MGM Spa in Tamuning last year, Wai Kam Ho allegedly justified his income by claiming that he owned about two percent of the VIP room in a Macau casino, according to District Court of Guam documents.

Macau is the gambling hub of Asia, and has grown to rival Las Vegas in recent decades.

The court documents don't state which casino Ho was referencing, but documents do say it was Macau's "original casino." Macau's original casino is the Casino Lisboa.

Wai Kam Ho and about six other people were indicted this month as part of a yearlong federal investigation into a suspected crime ring, which allegedly orchestrated illegal gambling under the guise of legal, nonprofit bingo. The ring also allegedly hosted illegal poker games at the shuttered spa, which Wai Kam Ho owns.

As part of the investigation, the Internal Revenue Service agents have repeatedly argued that Wai Kam Ho and his wife, Betsy Ho, appear to live larger than either can afford by legal means. Federal prosecutors have frozen their bank accounts and are attempting to seize cars and a California condo from the couple.

"Wai Kam Ho and Besy Ho appear to live an upper-middle-class lifestyle with access to large amounts of U.S. currency. However, they do not appear to have a corresponding source of legal ... income from within the U.S. which would justify their affluence," IRS agent Todd Peterson wrote in recent court documents. "... It does not appear that Wai Kam Ho and/or Betsy Ho are using funds from a foreign source income to support their lifestyle."

According to court documents, Wai Kam Ho said he made a profit on his Macau investment two years ago, but admitted he did not file taxes on the income. Wai Kam Ho also said he has investments in Four Seasons Corporation, which generate $400,000 a year, although no other details are provided.

Wai Kam Ho pleaded not guilty earlier this month. An arrest warrant has been issued for Betsy Ho, who did not show up for her first court appearance.