A 57-year-old male in Singapore is facing a hefty fine along with jail time over running a multi-million dollar illegal online gambling syndicate.
Leader of Illegal Gambling Syndicate Faces Jail and Hefty Fine
It was back in December last year when Seet Seo Boon, now 57, admitted to participating and leading an illegal online gambling syndicate. Overall, he is facing more than 50 charges regarding the illegal operation in which he was involved together with his two brothers.
Boon pleaded guilty to a total of seven charges related to breaches of the Common Gaming Houses Act, Remote Gambling act, Organized Crime Act and other breaches. Although he pleaded guilty on December 8, 2021, Boon is still out of jail on a S$75,000 ($55,000) bail.
The man, who was identified as one of the leaders of the illegal online gambling syndicate, was fined S$620,000 ($456,000). Moreover, Boon is facing nine years and eight months in jail. Unless he pays the fine imposed from the High Court, the defendant may receive an additional 310 days in jail.
According to court documents, for five years until 2016, Boon spent more than S$1.5 million ($1.1 million) which were illegally obtained. By collecting illegal proceeds from two websites his monthly earnings were approximately S$19,000 ($14,000). He used the ill-gotten earnings to pay for the mortgage of a condominium unit in Urbana, River Valley Close.
The Illegal Gambling Operation Raked Millions of Dollars
Upon investigating, lawmakers found that Boon was active between 2011 and 2016. During that time, he was operating two remote gambling websites. In less than two years, one of the remote gambling websites generated more than S$97 million ($71 million) in revenue. In total, according to lawmakers, the illegal gambling syndicate raked more than S$100 million ($75 million) in revenue from collecting illegal 4D and lottery bets from gamblers.
Working in collaboration with his brothers, Boon created a complex network involving nearly 50 shareholders as well as agents and recruits. The network expanded with recruits bringing in new agents that were all collecting illegal bets from gamblers.
The first gambling website was created in 2011 and it helped collect illegal 4D bets from bettors. The funds were then funneled into the project to help increase profits. Then, in 2013, Boon discovered an alternative online betting operation that would increase his profits. Thus, he decided to create a second website that once again collected illegal bets from gamblers.
The illegal gambling syndicate was easily raking up millions for five years until November 2016. Back then police raided Boon’s residence and arrested him. His two brothers are also under arrest as well as another 49 agents, recruits and shareholders involved in the illegal project.