Renowned high-roller Pete Tan Hoang, of Sydney, was arrested at Crown Casino carrying $1.495 million in cash — alleged to be proceeds of crime — in October 2012.
Melbourne Magistrates’ Court heard the 36-year-old had lost close to $8 million at Crown in 12 years, despite him having no recorded income.
Prosecutor Andrew Buckland said the now citizen received more than $50,000 in government benefits between 2001 and 2007, but had not lodged a tax return in the previous 12 years.
“Apart from the gambling referred to, he has no other legitimate sources of income,” Mr Buckland said.
He said Mr Hoang, who wanted to holiday and visit relatives in Vietnam — where he has travelled at least 12 times since 2000 — was a flight risk with no ties to Australia.
Mr Buckland said Mr Hoang has access to large amounts of money and no employment, property or significant other to keep him in the jurisdiction.
David Grace, QC, said his client made his money through gambling at casinos around Australia — including The Star casino in Sydney, despite being banned from the venue — and had won more than $2.5 million at Adelaide’s Skycity in recent weeks.
The regular guest of Crown’s Mahogany Room also made more than $600,000 after winning Tattslotto twice last year, Mr Grace said.
“This gambler is gambling on Tattslotto as well,” Mr Grace said.
“This man is a gambler and that’s what he does and that’s how he survives.”
He said there were deficiencies in the prosecution’s financial analysis because they could not account for all of his bets, and the complexities had repeatedly delayed his client’s case.
Mr Grace said Mr Hoang would not remain in the country from which he fled in the late 1990s just to avoid what would likely be less than a year in jail if he were to be found guilty.
Dealing with property suspected of being the proceeds of crime carries a maximum penalty of three years’ imprisonment.
The court heard a public servant, an employee of the Financial Services Ombudsman, was willing to put her Point Cook home on the line to guarantee Mr Hoang’s return.
Magistrate Suzanne Cameron denied the proposed bail variation, saying that Mr Hoang did not show any compelling reason for his need to travel or that he would be subjected to hardship if he could not travel.
She said the proposed surety of less than $400,000 did not compare to the large amounts of money the professional gambler regularly dealt with.
He will face a committal hearing in June.
