HONG KONG (Reuters) – Shares of Suncity Group Holdings Ltd were suspended on Monday after its chief executive was believed to be among 11 people arrested by Macau authorities on Sunday over alleged links to cross-border gambling and money laundering.
The South China Morning Post reported that Macau police said on Sunday a 47-year-old businessman surnamed Chau was among those arrested. Alvin Chau is head of Suncity.
Suncity could not be reached for comment. Shares of the company last closed at HK$0.255.
(Reporting By Anne Marie Roantree; Editing by Kim Coghill)
