Casino Junkets Named in $3.6 Million Ransom Transfer Tied to Murdered Chinese Steel Tycoon

Posted on: May 7, 2025, 08:51h. 

Last updated on: May 7, 2025, 09:43h.

Philip Conneller @casinoorgphilc Read More
Expertise: Gaming Business, Regulation, Tribal Gaming.
  • $3.6 million ransom paid for kidnapped Chinese businessman funneled through two casino junkets
  •  Victim Congyuan Guo was killed despite the ransom payment; his death linked to a failed $20M gambling deal

Philippine police have named two casino junket operators who they say received and transferred US$3.6 million in ransom money paid by the family of a kidnapped Chinese businessman who later wound up dead.

Congyuan Guo, Philippines ransom murder, casino junkets, 9 Dynasty Group, White Horse Club, crypto laundering, David Tan Liao, Philippine police, online gambling dispute, kidnapping case
Three suspects have been arrested in connection with the killing of Congyuan Guo and Armanie Pabillo, including the alleged mastermind behind the plot, David Tan Liao, left. (Image: Philippine National Police)

The junkets, 9 Dynasty Group and White Horse Club, funneled the money into various crypto wallets before it was converted into cryptocurrency, Brigadier General Jean Fajardo of the Philippine National Police (PNP) said in a news conference Monday.

Gruesome Killing

Congyuan Guo, also known as Anson Tan or Anson Que, and his driver, Armanie Pabillo, went missing on March 29, and a ransom note was posted to the businessman’s family the next day.

Guo was the wealthy head of Ellison Steel, a firm that provides steel to the Philippine construction and infrastructure industries. But what first appeared to be kidnap for ransom case – not unheard of in the Philippines – would soon take an even darker turn.

On April 9, the bodies of the two men were found dumped on the side of the road in a rural area northeast of Manila. The bodies had been crammed into nylon bags, the heads wrapped in duct tape. There was evidence of torture, according to authorities.

Police now believe that the kidnappers never intended to negotiate, and that the ransom was a smokescreen. A source with knowledge of the situation who spoke to The Manila Times described the killers’ motivation as “punishment.”

Gambling Deal Collapsed

Guo was involved in a $20 million online gambling deal that collapsed. His partners demanded a refund, but he couldn’t pay, according to the sources.

“This wasn’t just a killing — it was a message,” said The Manila Times source. “And the message was clear: Cross the wrong people, and you won’t just disappear. You’ll beg for death before it comes.”

Police have arrested three people in connection with the killing, including David Tan Liao, who is believed to have known Guo personally and is suspected of being the mastermind behind the plot. Two others have been named but remain at large.

At least five people allegedly received the money from the two junkets before it was converted into cryptocurrency, two of whom are already in custody.

Authorities said they are preparing to file charges against executives of both junket operations, including money laundering, conspiracy to commit kidnapping, and violation of e-commerce laws.