Dozens charged in Taiwan over $1bn illegal gambling operation

• Prosecutors in Taiwan charged 35 suspects in a massive illegal gambling and money laundering operation valued at $1bn
• A 41-year-old man, who obtained source code for the development of payment platforms, is believed to be the mastermind behind the network
• All suspects received charges on Monday

A large-scale operation against illegal gambling and money laundering in Taiwan resulted in indictments against dozens of suspects.

The criminal organization is said to have laundered nearly $1bn in ill-gained proceeds from online gambling with the help of a couple of payment processing platforms.

The criminal group laundered money from illegal online gambling

A total of 35 people, suspected of being involved in the criminal organization, received indictments on Monday, a report from the local news outlet, Focus Taiwan, reveals.

Individuals involved in the criminal organization are suspected of contributing to the laundering of more than NT$30.6bn, or just above $975.2m.

Prosecutors believe that August 2020 marked the creation of the criminal network when a 41-year-old man, who operates a Hong Kong-style diner in Taipei, bought the source required for the development of payment platform systems.

The same person was allegedly involved in the development of two payment platforms, MatchPay and HeroPay.

Through the payment platforms, the 41-year-old suspect allegedly facilitated online gambling websites that were operating from India, Japan, as well as China.

The two platforms were used to reroute the players' deposits before reaching the illegal gambling websites.

The expansion of the criminal organization resulted in the launch of its online gambling website called Rich 11 in June 2022.

The website used one of the payment platforms to process deposits by players and offered a range of gambling games such as slots, baccarat and even sports wagering, prosecutors say.

A woman also held a central role in the large-scale illicit gambling operation.

According to prosecutors, the 41-year-old man, who may have led the criminal group, hired a woman who was tasked with a range of responsibilities, including administrative and financial tasks.

Suspects hit with charges, ringleader may face up to 10 years in prison

Prosecutors did not reveal how much the criminal group earned from the illicit online gambling and money laundering activities.

What's known so far is that a portion of the ill-gained proceeds was funneled back into the organization.

The alleged ringleader also used proceeds for personal expenses and funded new business ventures.

The suspected 41-year-old leader may face a prison sentence of up to 10 years.

His accomplice, the woman who was tasked with a range of priorities, may receive a sentence of more than six years.

Besides the duo, 33 other suspects were also indicted for their alleged involvement in the large-scale illegal gambling and money laundering organization.

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