Chinese billionaire Huang Xiangmo bought $1.7 billion worth of chips at Sydney’s Star casino over five years until 2018 – transactions of which its senior executives would have been aware – but its senior compliance manager did not investigate the source of the cash, an inquiry has heard.

Giving evidence to the NSW inquiry on Thursday, the Star’s general manager of financial crime and investigations Kevin Houlihan agreed it was an “extraordinary” amount of money and “should raise questions about where the money is coming from”.