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Pair laundering NT$10 million per month arrested in central Taiwan

Outfit laundered gamblers' winnings via multiple businesses set up as fronts

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Taichung police display confiscated cash and equipment on Tuesday. (CNA photo)

Taichung police display confiscated cash and equipment on Tuesday. (CNA photo)

TAIPEI (Taiwan News) — Police have uncovered a money laundering operation handling more than NT$10 million (US$310,000) worth of gambling winnings each month in Taichung’s Xitun District.

Taichung police said on Tuesday (Aug. 22) that a woman surnamed Wang (王) led the operations and, alongside a man also surnamed Wang, provided services to gamblers seeking to disguise their winnings per CNA. The operation took payment of gamblers’ winnings from both foreign and domestic gambling establishments and laundered it through multiple companies that were set up as fronts.

Police said the pair had four or five staff working for them earning salaries of NT$40,000-50,000 per month plus a commission. In addition to the arrests, police also confiscated 10 computer terminals, 39 bank passbooks, and 60 bank cards.

The case will be transferred to the Taichung prosecutor’s office. In Taiwan, a conviction for money laundering carries with it a maximum seven-year prison sentence and a NT$5 million fine.