Taiwan Shuts Down Massive Illegal Gambling Network Generating Nearly $1 Billion

Record-Breaking Illegal Gambling Operation Uncovered in Taiwan

Taiwanian authorities have dismantled what is considered the largest illegal gambling network linked to money laundering in the country’s history. This illicit enterprise reportedly amassed close to $975 million in revenue by enabling wagers on unlicensed gambling platforms across East Asia through custom-built payment systems.

How the Gambling Ring Was Operated

The illegal operation was orchestrated by a local business owner, known only as Lo, who ran a seemingly ordinary diner that served as a front for the gambling activities. Lo launched the scheme in 2020 after acquiring the source code of a payment platform.

This led to the development of two separate payment solutions named MatchPlay and HeroPay. These platforms facilitated money transfers to and from gambling sites while bypassing standard anti-gambling payment controls, effectively masking illegal transactions.

Expansion Into Online Gambling

Not content with just running payment services, Lo initiated his own online gambling website called Rich 11. Both the website and the associated payment platforms are believed to have processed the nearly $1 billion in illicit revenue generated by the ring.

Legal Consequences and Investigations

Prosecutors have indicted a total of 35 individuals connected to the extensive illegal gambling operation. Lo is facing a prison sentence of at least nine years and six months. He allegedly reinvested his illegal earnings into both the gambling business and an expansion of his food-service ventures, opening an additional restaurant.

Another key figure, a woman identified as Huang who handled the financial transactions for the ring, is expected to receive a sentence of six years in prison. Authorities are currently moving to confiscate all assets and funds acquired through the illegal activities of both Lo and Huang.