Casino Choice UK News Archive
World’s second-biggest high-roller warns Singapore over casino
Chia Teck Leng, who is serving a 42 year jail sentence for fraud, was given time off from prison duties to write the 15 page document, entitled “Taming the Casino Dragon” – an informative account of his experience of the casino industry.
In it Leng describes how he ended up gambling away millions of dollars in the world’s most exclusive casinos, and details certain precautionary measures he thinks Singapore casinos should impose to minimise problem gambling amongst Singapore residents.
Chia Teck Leng was jailed in April 2004 for defrauding four banks of a total of $117 million, which he used to service his gambling debts. By the time he was caught Leng’s high-rolling gambling was out of control – he was regularly winning or losing $10 million in one night in an effort to recoup massive gambling debts.
The 45-year-old executive describes how although his gambling began innocuously, early successes meant he was quickly hooked. Still, as a consistent winner there was no problem for Leng, that is until one day, when he lost his entire bankroll of $750,000 in a single night.
From that point onwards Leng says he was always playing a losing game of catch up. Trying to recover the winnings he made greater losses and built up debts with the casinos. When they hounded him for payment Leng then turned desperate, falsifying bank documents to obtain gambling funds. He hoped to pay back the casinos by winning money in big stakes gambling.
Using millions of dollars of defrauded money Leng gambled in the world’s most exclusive casinos, placing million dollar bets on single hands and regularly losing $10 million in one night – making him the second-biggest casino gambler in the world at the time of his arrest.
In it Leng describes how he ended up gambling away millions of dollars in the world’s most exclusive casinos, and details certain precautionary measures he thinks Singapore casinos should impose to minimise problem gambling amongst Singapore residents.
Chia Teck Leng was jailed in April 2004 for defrauding four banks of a total of $117 million, which he used to service his gambling debts. By the time he was caught Leng’s high-rolling gambling was out of control – he was regularly winning or losing $10 million in one night in an effort to recoup massive gambling debts.
The 45-year-old executive describes how although his gambling began innocuously, early successes meant he was quickly hooked. Still, as a consistent winner there was no problem for Leng, that is until one day, when he lost his entire bankroll of $750,000 in a single night.
From that point onwards Leng says he was always playing a losing game of catch up. Trying to recover the winnings he made greater losses and built up debts with the casinos. When they hounded him for payment Leng then turned desperate, falsifying bank documents to obtain gambling funds. He hoped to pay back the casinos by winning money in big stakes gambling.
Using millions of dollars of defrauded money Leng gambled in the world’s most exclusive casinos, placing million dollar bets on single hands and regularly losing $10 million in one night – making him the second-biggest casino gambler in the world at the time of his arrest.
Submitted: 2006/01/10 at 11:09:22
