The newspaper “Focus Taiwan” reported an incredible case these days. According to this, the well-known billionaire Chuang Chou-Wen is said to have made himself a criminal offense by operating several hundred illegal gambling platforms. The wealthy entrepreneur is said to be chairman of the publicly traded company Xinliwang International Holdings Company Ltd. be.
Billionaire is said to have operated an illegal gambling network
The defendant Chou-Wen is said to have operated an illegal gambling platform and was also guilty of money laundering. In total, he is said to have illegally operated 532 online gambling sites. In addition, he organized and operated over 50 so-called online gambling providers. Just a few weeks ago we reported that casino operators and players in Iran could face the death penalty.
He was supported by 31 employees. Most of the users of the illegal online casinos come from the Chinese region. According to our information, the billionaire did not operate any illegal gambling sites in Europe. The resourceful entrepreneur transferred the gambling money he had collected from China to Taiwan via several hundred bogus accounts and laundered it there.
In January 2020, investigations by the authorities led to the billionaire entrepreneur. He then went into hiding and was on the run for several months. Chou-Wen was not arrested until November 2020. Intensive investigations followed, which led to the seizure of 41 properties with a total value of almost 39 million euros and 13 high-quality luxury cars.
In addition, the investigators found a total of almost 38 million euros in cash on the accused, distributed in various currencies. These were also confiscated. According to the investigation, the money laundering was carried out in an office building in Taichung City. A total of around 1.77 billion euros were laundered here, which came from the operation of the illegal gambling sites.
Chou Wen Corporation protests innocence
Xinliwang International Holdings Company Ltd. is currently still behind its chairman. In a recent statement, the group announced that Chou-Wen is believed to be innocent. In addition, the company referred to the honorary degrees that the well-known billionaire has received in the past.
Xinliwang International Holdings Company Ltd. is primarily active in the fields of construction and infrastructure. The company was founded in 1970 and is based in the Malaysian capital Kuala-Lumpur. The investigations against the chairman have resulted in the group’s share price falling significantly.
The well-known Taiwanese billionaire Chuang Chou-Wen is accused of operating several hundred illegal gambling sites on the Internet. In addition, he was guilty of money laundering in the high millions. Now he has to answer for his actions in front of a court. If convicted, the wealthy entrepreneur faces many years in prison. A verdict is expected soon. Will he continue to head Xinliwang International Holdings Company Ltd. will also remain to be seen.