An ultra-wealthy Singaporean businessman who was married to one of China’s most famous actresses burned through $60 million in less than a week during a short trip to Perth in one of the heaviest and fastest losses in Australian casino history.
New court documents released in Hong Kong this week show how Huang Youlong, a China-born tycoon and close mate of Alibaba founder Jack Ma, lost the staggering sum at the tables of Crown Perth back in 2015.
The subsequent multimillion-dollar legal fallout has exposed a web of bounced cheques, an engineered backroom casino credit scheme, and a luxury mansion handed over as debt repayment alongside a casual $1 million “wedding gift”.
$40 million lost in 48 hours, tycoon doubles down
The…