Vegas betting ring busted

Eight people have been arrested after the FBI and the Nevada Gaming Control Board foiled an illegal sports betting operation within a popular Las Vegas hotel.

Investigators believe the men, all of Asian origin, took wagers on World Cup games, after staff installed electronic, computer equipment and DSL lines in Caesars Palace, a luxury strip establishment. One of the defendants includes high stakes poker player and investment banker Paul Phua. The remaining seven are Malaysian, Chinese, and Hong Kong nationals.

They have been charged with one count of unlawful transmission of wagering and another of operating an illegal gambling business, offences that carry a maximum of two and five year sentences respectively.

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