88 Club Money Laundering Case: Guo Zhemin sentenced to 11 years and 8 months in the first instance! Laundered over 20 billion through cross-border remittance and USDT.

The "88 Guild Hall" money laundering case was pronounced, and the mastermind Guo Zhemin used game points plus cryptocurrency to launder money, and was sentenced to 11 years and 8 months, with a total of more than NT$4.5 billion in illegal income confiscated. The case is also appealable. (Summary: New Taipei Three Police Involved in the 88 Guild Hall Money Laundering Case" broke out more than 10 police students involved in brick moving arbitrage, and the prosecutor did not rule out the second wave of search interviews) (Background supplement: 88 Guild Hall Case" 3 police involved in helping money laundering 100 billion! The crypto wallet showed a huge amount of gold, and Bitgin Zhang testified in court ) Taiwan's high-profile "88 Guild Hall" money laundering case, the New Taipei District Court pronounced a judgment in the first instance on the afternoon of (29), and game tycoon Guo Zhemin was sentenced to 11 years and August imprisonment for leading online gambling, underground exchange and virtual currency money laundering; Over NT$3.5 billion in assets and over 6.41 million USD (USDT) were also confiscated. Guo Zhemin sentenced to 11 years The court found that Guo Zhemin had violated the Banking Law and illegally handled domestic foreign exchange business, and in addition to the fixed-term imprisonment, confiscated 6,412,959 Tether and NT$3,513,705,017. The core accomplices Zhang Osheng and Du Ohao were also sentenced to 9 years and 8 months in prison for the Banking Law and the Money Laundering Prevention Law, and recovered illegal gains. Of the 15 people guilty in the case, 2 were not guilty, and Zhang Oxuan received a 3-year suspended sentence due to factors such as first-time offenses. Gaming exchange combined with cryptocurrency money laundering According to the verdict, Guo's AE Group made more than $119 million ( about NT$3.58 ) billion through cross-border online gambling. Later, from the 107th year of the Republic of China, the "69 Club" was used as a base to operate underground foreign exchange, handling more than NT$21.8 billion and making illegal profits of more than NT$126 million. Money laundering methods include traditional transfers and the use of Tether (USDT) to conceal funds, and even PG point conversion. Illegal proceeds are used to buy luxury goods such as supercars, real estate and art. The "88 Guild Hall" case not only caused judicial personnel to be punished because of the discipline involved in the prosecution and police, which severely damaged public credibility, but also nakedly exposed the money laundering methods of underground exchange and online gambling combined with cryptocurrencies. The case highlights Taiwan's efforts to block cryptocurrencies, especially Tether (USDT), which has become a new mainstream money laundering tool for unscrupulous groups due to its anonymity and ease of cross-border transfer, posing a regulatory challenge that international institutions such as FinCEN are working hard to deal with. Related reports Taiwan's eldest brother Lin Zhichen "born as a Taiwanese, died as a Taiwanese ghost" shocked NTU graduates: young people look for the destiny of heaven Liu Genghong broke out that he owes Taiwan old debts! Once rubbed Jay Chou's "Phanta Bear NFT" to earn NT$300 million 〈88 Association Money Laundering Case: Guo Zhemin was sentenced to 11 years and August in the first trial! Relying on cross-border exchange and USDT to launder more than 20 billion" This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Blockchain News Media".