Hong Kong Police smash $141 million Triad gambling network

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Hong Kong Police have said that an orchestrated takedown of a HK$1.1 billion ($141 million) Triad playing community has been carried out.

The police issued a video convention across the bust, confirming that ten males and 5 ladies had been apprehended on suspicion of working playing places, cash laundering, and different unlawful actions.

It comes solely weeks after authorities introduced the seizure of luxurious and money property linked to a cryptocurrency, playing, and cash laundering scheme involving Prince Holding Group’s founder, Chen Zhi, which totaled HK$2.75 billion ($354 million).

Hong Kong Police apprehend suspects

The press conference, led by Superintendent Ching Chi-yan, stated the raid originated from the investigations into the Tsim Sha Tsui space of Kowloon that highlighted elevated criminal activity in playing, medicine, mortgage sharking, extortion, and fraud.

In keeping with the South China Morning Post, the 15 arrests recognized the ringleader of the group, with the police referring to his hyperlinks to the Solar Yee On triad organized crime gang.

HK$24.7 million ($3.17 million) was seized from the ringleader’s house in Ma On Shan, together with HK$16 million ($2 million) in money and $90,000 in property reminiscent of worldwide forex and jewellery. The person’s financial institution accounts have additionally been frozen as a part of the playing raid.

Hong Kong Police, in the course of the information convention, confirmed that HK$200 million ($20 million) in suspicious transactions had been processed by means of accounts linked to the arrested events, however no earnings was declared in reference to these accounts.

This flagged the anti-money laundering triggers the Hong Kong Police have in place, and the ringleader’s firm is estimated to have dealt with HK$960 million ($123 million) in processed transactions since 2020.

Operation Thunderbolt

In the identical week because the information convention, the Hong Kong Police additionally released details of a tactical deployment, Operation Thunderbolt 2025.

The operation came about throughout Guangdong and Macao and led to the arrest of 1,140 people linked to triad exercise. The swooping police motion reportedly additionally seized $548 million in property linked to unlawful actions.

The assertion learn that 1,700 places had been “efficiently neutralized over 800 unlawful premises, together with playing dens, vice institutions, divans and unlicensed bars.”

Featured picture: Hong Kong Police

The publish Hong Kong Police smash $141 million Triad gambling network appeared first on ReadWrite.

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