Paul Phua Has Won $2.3 Million in Poker Tournaments and Is Worth $400 Million
The Malaysian man who was arrested for running an illegal sports betting ring in Las Vegas this week is thought to have been a high-stakes poker player. Paul Phua was arrested along with accomplices in Las Vegas earlier this week, trying to operate a World Cup betting ring out of a suite at Caesars Palace casino on the Las Vegas Strip.
Much of the information about Paul Phua is contradictory and confusing at the time. A preliminary hearing is set for August 4 before a federal judge, so it is expected that verifiable and trustworthy information should be available at that time. For the time being, the man at the center of the case appears to be a colorful figure. So far, he online news sources have suggested he is many things: a poker tournament winner, a triad member, a Macau casino room operator, the owner of a prominent online bookmaker, and a simple man from Malaysian Borneo. It’s unlikely Paul Phua is all of these things at once, yet he is notable, by any means.
About Paul Phua
The man arrested was known as Phua Wei Seng, a 50-year old Malaysian citizen. He is known to the poker world as Paul Phua, who earned $2.3 million in winnings while playing in three international tournaments. While he finished in the money in two tournaments, Mr. Phua won the Aspers £100,000 High Roller in London.
Numerous poker sites and player forums have stated that Phua is well-known in the Macau circle of high rollers. He is thought to be a legal in the area, referred to by the nickname “Sabah kia”.
SBO Bet Incorporated
A number of Internet rumors have swirled, making it difficult to determine the truth about Paul Phua’s backgound. Some sources saying he is the “boss” of SBOBet, on online bookmaker licensed in the Philippines and the Isle of Man. SBOBet’s Asian operations are licensed in the Philippines, while it European operations are licensed in the Isle of Man.
SBO Bet Inc. stands for “Sports Book Online“. It was founded in 2004 and, in 2009, became the first online sportsbook licensed in the Isle of Man to have a live dealer casino attached to it. The executive director of SBO Bet is Bill Mummery, so the rumors that Paul Phua has something to do with running the company may be fallacious.
Phua Wei Sang
In fact, other stories about Phua Wei Sang suggest he has nothing to do with online bookmaker. More humble stories suggest he is a high roller from Miri, Sarawak, a Malaysian city found on the island of Borneo. He is known to have a fortune worth approximately $400 million, while one prominent online poker site describe Phua’s fortune as “a bottomless pile”.
Several sources claim he is associated with a triad known to have ties to illegal gambling, prostitution and drug trafficking. To make his story more interesting, the Las Vegas arrest has been reported to be “unfortunate”, because Paul Phua was planning to retire next year.
The Facts of the Case
What is known about Paul Phua is that he was arrested at Caesars Palace along with 3 other Malaysian men, including his 22 year old son, Darren Phua. Four Chinese nationals were arrested along with them, while sitting in a lavish suite surrounded by televisions and video monitors.
Caesars Palace staff reported the set-up to management at the casino, which became suspicious that the men were running an illegal sportsbetting ring. Caesars staff called U.S. authorities. This led to a joint raid by the FBI and agents of the Nevada Gaming Control Board.
Prominent Comments on Phua’s Past
Caesars Interactive Entertainment vice-president Ty Stewart noted in an interview that Mr. Phua was a known high roller. Ty Stewart added, “Guys like Phua are accustomed to playing really big.”
It is known that Phua remains free in the Las Vegas area and has cooperated with U.S. authorities after his arrest. He wears a GPS monitoring device and surrendered his private jet to authorities as collateral, if he were to flee the country. Phua and his son are currently living in the home of a local doctor, who is said to be a poker enthusiast.
In the South China Morning Post, Mr. Phua was alleged to have managed eight VIP high roller tables at the Macau Sands Shanghai Room in the past. According to the story, which was quoted in the Macau Business publication, Phua was responsible for “billions of dollars” of turnover in three months time.
