Two More Released – Cates And Ivey Post Bail

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In the latest development of the arrest of eight men in Las Vegas for alleged illegal betting a few weeks back, it has been reported that two more have been released on bail, joining both Paul Phua and his son Darren Phua who were released earlier in the week.

The Phuas’ were released when both Phil Ivey and Andrew Robl posted bail for a combined amount of $2.5 million, whilst Paul Phua also had to surrender his $48 million private jet for collateral.

Well now, according to the Las Vegas Review-Journal, both Wai Kin Yong and his father Seng Chen “Richard” Yong have been released after Phil Ivey and Dan Cates put up bonds totalling another $2 million.

Yong required a bond of $1.5 million whilst his son required $500,000 to be released. Ivey and Cates reportedly put up $1 million each. Ivey, who is good friends with both men, was reported as saying “I have the utmost respect and trust for them,”

The US Magistrate Judge Bill Hoffman agreed to their release under a number of enforced restrictions such as the men having to be electronically monitored, having no access to the internet and no gambling.

A third man was also released, though his connection to poker is not thought to be that substantial. He was Hui Tang, a Hong Kong Real Estate executive who also had to post a bond of $1.5 million. This means that five of the eight have thus far been released on bail.

Each of the eight men were arrested for allegedly taking illegal bets in Las Vegas on the World Cup that was taking place at the same time in Brazil. These bets were allegedly for amounts totalling millions. Caesars were reportedly the first to catch on to the illegal betting and banned them from the casino before the FBI became involved and tracked down each of the men and arresting them.

Many of those arrested are businessmen but regularly play high stakes poker, with Phua actually being a regular in many of the world’s biggest High Roller tournaments such as the WSOP Big One For One Drop back in 2012.

This story certainly seems to be one that is going to keep on running, so we will endeavour to keep you all informed on any developments as and when they are revealed.