Zhou Zhuohua was sentenced to 18 years in prison by a Macau court on Wednesday (18th).
"Hong Kong 01" found that the high-rise unit of Cullinan, a luxury residence at Kowloon Station with a market value of about half a billion, will also be officially taken over by Lawrence Ho's Melco Crown (Macau), a subsidiary of Melco International Development (0200), as a mortgagee in December 2022. Lose ownership.
The Storm of Washing Mihua・Special Page｜The arrest of Zhou Zhuohua involved in cross-border gambling in the Mainland leads to changes in Macau's gambling industry
Zhou Zhuohua was sentenced to 18 years in prison by a Macau court on Wednesday (18th). On the day of his arrest on November 27, 2021, he mortgaged the second mortgage of the Cullinan high-rise unit with a market value of about 50 million yuan with "Sun Century Development" to Melco Crown ( Macau), Melco officially took over the Cullinan high-rise unit last month.
(File photo/photo by Fu Xiangding)
Zhou Zhuohua (Xi Mihua), a Macau businessman and founder of Suncity, was charged in Macau with a total of 289 crimes including the establishment and command of criminal groups, money laundering and illegal gambling, which reduced the Macau government’s collection of 8.26 billion yuan in gaming taxes. Today (18th) Sentenced to 18 years in prison by a Macau court.
Second, the property with a market value of about 50 million yuan repays debts to Melco’s subsidiary
On the day Zhou Zhuohua was arrested, that is, November 27, 2021, he used "Sun Century Development" to hold half of the ownership of the Cullinan high-rise unit with a current market value of about 50 million yuan. All borrowings of the company, Melco Crown (Macau).
The document was signed on November 27th.
Melco then filed a petition with the Hong Kong High Court in February 2022 to request "Sun Century Development" to hand over the property ownership of the Tianpu in order to repay the debt owed to the company.
As of last month, Melco officially submitted documents to the Hong Kong authorities to take over the mansion.
Checking the information, "Sun Century Development" has been held by Zhou Zhuohua and Zheng Dinggang each with half of the shares.
"Sun Century Development" purchased a high-rise apartment in Cullinan for RMB 54.5 million in July 2012, with a usable area of 1,401 square feet. The latest valuation by major banks is RMB 51.18 million.
After they bought the unit that year, they immediately mortgaged it to Hang Seng Bank and signed a rental transfer agreement with Hang Seng, which means transferring the rental rights of the unit to the bank to increase the mortgage held by the bank.
On the day of Zhou Zhuohua's arrest, "Sun Century Development" mortgaged the high-rise unit of Cullinan with a current market value of about 60 million yuan to Melco Crown (Macau) to repay the debt.
(File photo/Photo by Cai Zhengbang)
Mortgaged the associated luxury house to Melco Crown (Macau) twice within a month
It is not the first time that the luxury house related to Zhou Zhuohua has been mortgaged to Melco Crown (Macau) to repay the debt.
As early as November 4, 2021, that is, more than 20 days before Zhou Zhuohua's arrest, his "lover" Mandy Lieu had mortgaged the high-rise unit of the West Mid-Levels mansion with a market value of 120 million yuan to Melco Crown (Macau) ), this unit used to be regarded as the "love nest" of Zhou Zhuohua and Mandy Lieu by the outside world.
In addition to the skyscraper unit, Zhou Zhuohua has already mortgaged his related luxury house to Melco Crown (Macau) twice within a month, but according to the information, Melco Crown (Macau) has not yet seen Mandy Lieu take over the luxury house.
▼On November 27, 2021, Macau police arrested 11 people including Zhou Zhuohua▼
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Mihua laundering case｜Zhou Zhuohua was sentenced to 18 years in prison for 162 crimes and must pay more than 8.6 billion to the Macau government and gaming companies. Zhou Zhuohua: I don’t understand why he became a criminal group or a triad.