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Billionaire's aide loses chance for bail

A federal magistrate in Manhattan on Tuesday ordered an aide to a jailed Macau billionaire held without bail after prosecutors reported that he had lied about having a Chinese passport and had access to a safe-deposit box with $500,000 cash.

Jeffrey Yin and his boss, Macau real estate tycoon Ng Lap Seng, were arrested Sept. 19 and accused of bringing $4.5 million in cash into the United States over the past two years and lying to Customs agents about how it would be used, which is still not known.

Ng, who was linked to a scheme to funnel foreign cash to Democrats for the 1996 elections and visited the White House where he had his picture taken with the Clintons, is being held without bail. Bail for Yin, who held a U.S. passport, was set at $1 million.

But prosecutors told U.S. Magistrate Sarah Netburn that they since located a Chinese passport that Yin hadn't disclosed in his belongings and a key to the safe deposit box. She ruled that evidence made him a flight risk and revoked his chance of making bail.

The two were arrested, according to the government, after meeting at a Long Island residence with an unnamed wealthy Chinese associate. Yin's defense lawyer revealed Tuesday that a female associate of Ng and Yin has been charged in a sealed case in federal court in Brooklyn.

In addition to his past ties to the Clintons, Ng's name has also surfaced in a lawsuit this year involving the Macau holdings of Sheldon Adelson, a Las Vegas billionaire and major political donor.

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