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Isle of Man GSC bars Phua Cheng Wan from gambling roles indefinitely

Enforcement & compliance

The Isle of Man Gambling Supervision Commission prohibited Phua Cheng Wan from holding any role in the island’s regulated gambling sector. The restriction is indefinite unless Phua successfully appeals; the GSC said he is the ultimate beneficial owner of Boldwood Software, whose licence ran from 21 November 2022 to 14 May 2025.

The prohibition prevents Phua from taking any role in the Isle of Man’s regulated gambling sector unless an appeal succeeds.

Earlier fines and penalties by GSC

DateCompanyAmountStoryAppeal status
Celton ManxGBP 3,940,000Isle of Man GSC imposes GBP3.94m penalty on Celton ManxNot stated
SK IOMGBP 70,000GSC fines SK IOM £70,000 for AML and counter-terrorism control failuresNot stated
Ableton Prestige Global, Amiga EntertainmentNot statedIsle of Man police raid two gaming companies in money-laundering investigationNot stated
Betsson, BMO ManxGBP 700,000Isle of Man GSC fines Betsson subsidiary BMO Manx £700,000Not stated

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