157 Arrested In Chinese Sportsbetting Raid

Police in China announced that they have conducted a sportsbetting raid in the Guangdong province, arresting 157 people and confiscating millions of dollars in cash through bank accounts.

The raid came after a year long investigation into the ring, which was heavily involved in football bets. 132 million yuan ($21.29 million USD) was taken from various associated bank accounts. Credit cards and computers were also taken in the raid.

It is estimated that the crime ring took more than 100 billion yuan in bets on worldwide football matches.

Speaking about the raid a Law Enforcement Spokesman said, “This is the largest illegal soccer betting gang busted in the mainland so far, and the crackdown has helped consolidate Guangdong’s great achievements in fighting underground soccer gambling."

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28 May 2013 - 3:21am

how much is 1billion yen in us currency?I don't know