Thursday, April 5, 2012

How to make US$1.3 billion in just 4 months

A football betting and fraud ring busted by Malaysian police grossed $1 billion, reports said on Friday, after an operation that led to the arrests of scores of Chinese and Taiwanese nationals.

Police conducted the raid in the city of Kajang, near the capital Kuala Lumpur, on Thursday after receiving a tip-off, the latest high-profile effort to clamp down on rampant illegal sports betting in Asia.

The Malaysia ring operated for a month from several luxury bungalows in an upscale gated community “home to several ministers and former cabinet members,” The Star Newspaper reported.

Police believe the operation raked in nearly four billion ringgit ($1.3 billion), it said.

The bungalows had closed-circuit video systems for security and police found “suspects engrossed in their laptops and telephones in a classroom-like atmosphere with all the tables neatly arranged in rows,” the report added.

Suspects were equipped with 241 mobile phones and 43 computers, the New Straits Times said.