Former Star Entertainment Group CEO Matt Bekier directly approved billionaire property developer Phillip Dong Fang Lee’s withdrawal of more than $22 million using his China UnionPay card over three days, but did not ask the anti-money laundering team to check the source of his funds, an inquiry has heard.

Giving evidence on Tuesday, Mr Bekier agreed it was “an extraordinary amount of money to withdraw on a debit card”, but said it was acceptable provided it did not “break any laws”.