West Australian billionaire and founder of Virtual Gaming Worlds (VGW) Laurence Escalante has been slapped with nine new drug charges, bringing him to 17 total criminal charges.
VGW confirmed at the end of January that Escalante had temporarily left his position as company CEO after he was charged with assault and illegal drug offenses.
Key Takeaways
- Escalante was said to have had trafficable quantities of drugs.
- The gaming technology billionaire is alleged to have barged into his ex-partner's house, assaulted her, and took her jewelry.
- Western Australia could seize his assets, even if they weren’t obtained illegally.
Escalante, 44, appeared at the Magistrates Court of Western Australia in Perth on Thursday. His second trip to the courtroom was related to the terms of his bail and his freedom of movement.
Upon his arrival, the court was also informed that the accused billionaire faces nine new charges, including three charges of possessing a prohibited drug and six charges of unlawful possession of a controlled or prescription drug.
He is also accused of being found in possession of trafficable quantities of drugs, including ketamine, MDMA, and cocaine, following the execution of a police search warrant.
The new charges were added to a list that also includes aggravated home burglary, stealing, assault, and persistently engaging in family violence.
Escalante’s lawyer, Simon Freitag, asked the court to reduce his client’s reporting requirements and to remove a clause that prevented him from coming within 500 meters of the Perth Airport’s international departures building. He also asked for changes to a suppression order that was created by concerns that the billionaire was at risk of being kidnapped and extorted.
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The arrest
Escalante – who has a net worth of $4.5 billion – was arrested at his residence in Perth in late January following an altercation with his ex-partner, a 24-year-old woman.
Court documents obtained by The Australian Financial Review stated that Escalante was accused of entering the woman’s home on Jan. 26 and demanding that she leave the property. The woman accused him of striking her in the face and stealing jewelry that included a watch and Cartier bracelets worth approximately $150,000. He also allegedly destroyed a $66,000 Hermes bag with a pair of scissors before leaving the property.
Three days after Escalante’s arrest, a $25,000 Rolex watch, Cartier bracelets, and a pair of diamond earrings were located in his bedroom safe.
“We are aware of the serious charges made against Mr. Escalante,” a VGW spokesperson said after his arrest. “These are unrelated to VGW and personal in nature.
“However, we can confirm Mr Escalante will be taking a leave of absence from his role as CEO and Executive Chairman of VGW. In the interim, we have installed experienced leadership from our existing executive team to take on those responsibilities, and it remains business as usual for VGW.”
VGW is a leader in online gaming technology and entertainment. Its LuckyLand Casino is among North America’s leading sweepstakes casino sites and exists in a legal loophole that allows it to operate without receiving licensing in most states.
What comes next?
The next steps in Escalante’s case remain unclear. Western Australia has strict criminal property confiscation laws that could allow the state to claim the assets controlled or handed out by a drug trafficker, regardless of if the assets were achieved through criminal activity.
Escalante is set to appear back in court on June 18.
