For years, Phua has navigated the globe in an ultra-long-range business jet, its tail designation -- N888XS -- a nod to the Chinese belief in lucky number eight and the overindulgence that often accompanies a gambling windfall. With billions of dollars reportedly at hand, Phua has erected a gaming empire, touching down in Hong Kong, Las Vegas, London, Melbourne and anyplace in between where there are casinos, nosebleed poker games and gamblers ready to place max bets on the world's most lucrative sporting events. ... an unassuming 51-year-old Malaysian and the reputed principal owner of the world's largest sportsbook, IBCBet. ... What follows is the story of Phua's rise from a Borneo numbers runner to the biggest bookie around -- as well as the most powerful figure in poker. And how the FBI finally hooked him, only to watch him walk away a free man. ... According to trade estimates, IBCBet handles roughly $60 billion of betting per year. With a 1 percent take, the book clears $600 million annually. An IBCBet source in Manila says Phua owns 70 percent of the enterprise. ... By 2013, Macau's annual gaming revenue had grown to more than $45 billion. This growth -- which Adelson and Wynn publicly fronted -- was propelled in part by Phua, who for the moment remained unknown to those located anywhere but at the center of the industry.
As big as it was, the heist could have been a lot bigger. The hackers originally intended to funnel $951 million of Bangladesh Bank’s money into phony accounts, according to various investigations. Via Swift, they fired off a series of messages to the New York Fed to do just that. The theft of the full amount was only averted because, after the initial payments had been made, several transactions were flagged “for sanction compliance review,” ... Since then, Philippine authorities have recovered almost a fifth of the stolen money and returned it to Bangladesh, but most of the rest, after flowing through a series of accounts, a money-transfer company, and into local casinos, disappeared into the muggy Manila air. ... All but cut off from the world and hamstrung by sanctions imposed by the United Nations, the U.S., South Korea, and Japan, North Korea needs convertible currencies to finance imports, among other things. It uses a shifting array of agents, shipping companies, and brokers to bring in illicit cash