An $8 Million Scam In China Used Wynn Macau Name

Post by Ryan Knuppel on - Tags: , ,
8 million scam in China using Wynn Macau Name

Officials of Wynn Macau Ltd expressed their concern after finding out that the name Wynn Macau was used in an elaborate scam that managed to collect more than $8 million. The scam took place in China, and the entire case was reported by Chinese media.

The idea behind this scam was to attract people with money who would invest in a new and lucrative project. It all started with a simple website that explained how Wynn Resorts was aiming at building a brand new online casino venture. The scam attracted more than 200 victims, who invested approximately $7.9 million in this fake project.

A Chinese news outlet featured an official statement issued by a spokesperson of Wynn Macau. They stated that they were deeply concerned about the reported incident and had been working closely with the Macau Gaming Inspection and Coordination Bureau.

Moreover, the spokesperson added that the company didn’t engage in any kind of online investment schedules. Finally, the statement ended with the spokesperson encouraging people to be very careful on the web and not engage in any sites that claim to be connected with Wynn Macau.

The statement reminded all that gambling, especially online gambling, is limited to Macau only. In fact, only several sports betting and horse race betting sites are available online, while the majority of casinos in Macau offer their services offline.

Details About the Scam — Who Was Lured In?

There were not many details disclosed about the scam. All we know at the moment is that the 200 people who were lured in by the scam were from mainland China.

They come from 10 provinces, and some are from Guangdong, which is a province right next to Macau. These investors all accessed an app that promised them that they would get returns to their investments very quickly and that they would be substantial.

This type of scam is, sadly, not new in China. Scammers both inside and outside China are profiting from the fact that many Chinese residents are not aware that online gambling is illegal in their country. Therefore, many scams promise that the online casino would be “first of its kind” in China and that always attracts naive investors who immediately decide to invest in it.

To look authentic to investors, these scams started using names of popular companies, including Wynn Macau. That way, investors would believe the scam and consider it legal.

Unfortunately, many scammers were pretty successful using this strategy in China.

Reportedly, the app has been shut down, but authorities still haven’t arrested anyone. However, they have a good reason to believe that the group of scammers who were behind this project are operating inside mainland China.

One thing is certain — China definitely needs to raise awareness about this type of operation and warn its citizens about potential threats on the web. That way, it will be able to minimize this type of crime in the country.

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