Case of 88 Club: 3 police officers involved in helping Money Laundering with a billion k! A huge amount of money flow in the encryption wallet reveals the clue, and Bitgin unexpectedly appears in court as a witness.

The 'Ruisen Silver House' Money Laundering case in New Taipei City has shaken the entire Taiwan, involving a huge fund flow of illegal gambling platforms and Virtual Money. Prosecutors have launched a large-scale investigation, with up to three criminal police officers involved being released on bail. Taiwan's Cryptocurrency exchange 'coin竟 Bitgin' operating officer Zhang Yuting appeared as a witness, gradually revealing the network of Money Laundering behind the case. (Background: Do Kwon was taken to the U.S. for the first time and did not plead guilty. The prosecution added charges of conspiracy to commit Money Laundering.) (Context: Taiwan's FSC unveiled the 'Financial Market Innovation Department' and warned encryption users on the same day: All caught in Money Laundering again!) The Money Laundering case at 'Ruisen Silver House' in New Taipei City continues to expand its investigation, with police officers and individuals from the Cryptocurrency industry being summoned. This includes Taiwan's Cryptocurrency exchange 'coin竟 Bitgin' operating officer Zhang Yuting appearing as a witness, sparking attention. Prosecutors estimate that the amount involved through Virtual Money and gambling platforms may exceed k hundred million. In related news: The '88 Club' with a multi-billion Money Laundering case - Taiwan's exchange COO also detained! Related to Virtual Money? Assisting in laundering hundreds of millions, 3 police officers post bail of 50,000 USD. According to ETtoday, Huang Chiwei, head of the Tucheng Police Station's Investigation Team, Wu Guorong, head of the Criminal Investigation Division's Second Team, and another officer involved, Zhang Yalun, were reported by the Police Supervision Office for unusual fund flows in their encryption Wallets. Following a prosecutor's investigation, the three police officers are suspected of assisting 'gold tycoon' Tu Chengwen in whitewashing funds through USD and were searched by prosecutors and police on the 15th, along with their relatives. The three officers each posted bail of 500,000 New Taiwan Dollars, while others related were released. On the 15th, a large-scale search was conducted by the New Taipei Criminal Investigation Bureau, targeting the residences of the involved police officers and simultaneously summoning Tu Chengwen's Yangsheng Group related personnel and witnesses, including Taiwan's Cryptocurrency exchange 'coin竟 Bitgin' CEO Liu Yuxin and operating officer Zhang Yuting. Zhang Yuting appeared in court as a witness and was released after questioning. The 'Ruisen Silver House' Money Laundering network is exposed, with the main suspect having fled. Tu Chengwen, the person in charge of Ruisen Silver House, was accused in the '88 Club' series of Money Laundering cases, allegedly engaging in fund transactions with game points and Virtual Money, assisting 292 illegal gambling platforms at home and abroad with fund transactions, and conducting large-scale Money Laundering operations through Yangsheng Group companies and institutional accounts. Preliminary investigations revealed that Yangsheng Group made profits of up to 3.3 billion NTD, with an additional tax evasion of approximately 300 million NTD. However, before the prosecution took action against Tu Chengwen in November 2023, he had reportedly fled, possibly crossing the border in advance. Relevant units are vigorously pursuing him and investigating whether there was any internal leakage of information leading to his successful escape. In addition, a warrant has been issued for the fleeing Tu Chengwen and separate investigations are being conducted into the involvement of internal personnel. Prosecutors have charged 27 individuals and continue to investigate the masterminds behind the scenes. After the Taipei District Prosecutor's Office concluded its investigation, 27 individuals, including Taiwan's Cryptocurrency exchange 'coin竟 Bitgin' CEO Xuguan Zhi, operating officer Zhang Yuting, and several executives of the Yangsheng Group and Ruisen Silver House employees, were charged under the Money Laundering Prevention Law, the Organized Crime Prevention Act, and the Tax Collection Act.