Multi-millionaire Malaysian businessman and 2012 Big One for One Drop contestant Paul Phua was arrested this past weekend in Vegas by the FBI and charged with illegally operating a gambling business that took bets on the World Cup at Caesars Palace, according to Las Vegas Review-Journal.
Bail for the high stakes poker player was set at $2 million, plus Phau was forced to give up his private jet—estimated to be worth nearly $50 million—while preparing for trial under house arrest.
The FBI believes Phua to be “a high-ranking member” of a Hong Kong based global criminal organization known as the 14K Triad.
Phau was arrested along with his 22 year old son, Darren Wai Kit Phua, and nearly a dozen other alleged participants in a criminal ring that revolved around illegal sports wagering.
Phau’s legal representative, David Chesnoff, who said in court Monday that his client was not a part of organized crime also stated that members of the poker community were ready to assist in posting Phau’s bail, including high-stakes player Andrew Robl who was willing to put up $1.5 million, according to the Review-Journal.
Assistant U.S. Attorney Kimberly Frayn indicated that other members of the poker community may also be linked to the illegal sports betting ring.
The 50 year old nosebleed stakes player has approximately $2.9 million in career live poker tournament cashes, according to the Hendon Mob database, with a first place finish in the £100,000 Aspers High Roller event in London for $1,621,297 in 2012.