Taiwanese Tycoon With A 'Tan Sri' Title Arrested For Alleged Connection In Online Gambling
While the online gambling servers are based in Taiwan, the players are mostly from China, the Philippines, and Malaysia.
By Yap Wan Xiang — 06 Nov 2020, 01:32 PM
A Taiwanese tycoon was arrested in Changhua, Taiwan on Wednesday, 4 November, for his alleged connection to illegal gambling and money laundering activities
Chuang Chou-wen, who holds the title of Tan Sri, is the billionaire chairman of Xin Li Wang International Holding Group, headquartered in Taichung, reported Taiwan News.
On 11 August, the financial holding chairman managed to escape captivity when local police busted an underground gambling and money laundering operation.
He had been on a run since, until he was arrested two days ago after the police successfully intercepted his travel plan as he was getting off a taxi.
Kwong Wah Daily reported that Chuang is believed to be a central figure behind several online gambling sites.
Although the gaming servers are located in Taiwan, the players are mostly based in China, the Philippines, and Malaysia.
It is learnt that his company invested millions in Malaysia's technology and construction sectors, which led to former Yang di-Pertuan Agong Sultan Muhammad V bestowing him with the Tan Sri title
According to a Bernama, Chuang was among 48 individuals who were conferred with the Panglima Setia Mahkota (PSM) award, which carries the Tan Sri title, during Sultan Muhammad V's birthday celebration in 2017.
Prior to that, he already held a Datuk title.
He also allegedly received titles in Cambodia and Indonesia.
Other than allegedly running illegal online gambling activities, he reportedly made successful investments in restaurants, yacht businesses, gaming machines, and the multi-billion dollar online gaming industry.
Upon his arrest, the local authorities announced that they have confiscated approximately RM43 million worth of luxury vehicles
In a press conference on Thursday, 5 November, Taiwan's Criminal Investigation Bureau (CIB) displayed photos of 13 supercars seized during their raid at Chuang's mansion and company, reported China Press.
The cars include a McLaren sports car with a market price of over RM14 million, three Lamborghinis, two Ferraris, a Rolls-Royce, a Morgan retro sports car, two Porsches, a Bentley, a Maserati, and a Mercedes S550s.
Previously, Chuang caught media attention after he bought a private jet — Gulfstream G650ER — for approximately RM304 million.
Leading up to his arrest on Wednesday, it was rumoured that he had escaped to Southeast Asia on his private jet following the crackdown on his operation in August.
