The owner of the famous Taipei store "Dongying Knife Hand" is involved in a 3 billion Money Laundering case! The police have seized 200,000 USD.

Two well-known dining brands in Taipei, "Ming Xiang Yuan Ice Room" and "Dong Yin Fast Knife Hand," have been shockingly involved in a cross-border money laundering case. Investigations by the authorities revealed that the two bosses, Luo Yi Xiang and Huang Xiu Rong, are suspected of leading an illegal third-party payment platform, Hero Pay, laundering nearly 3 billion New Taiwan Dollars for an online gambling group in Southeast Asia within six months, and charging approximately 300 million New Taiwan Dollars in service fees. The task force confiscated 200,000 USDT (valued at about 6 million New Taiwan Dollars) during the operation, shocking the dining and crypto world.

Culinary Celebrity Enters Illegal Payment Platform

According to the prosecution's investigation, Luo Yixiang is the person in charge of the Hong Kong-style tea restaurant "Ming Xiang Yuan Ice House" in Taipei's eastern district, while Huang Xiurong operates the famous late-night eatery "Dong Yin Quick Knife Hand." The two are accused of secretly operating the Hero Pay platform, specifically handling illegal money flows for online gambling groups in mainland China, Japan, Malaysia, and other regions. Through a "collection and payment" model, they converted funds into Crypto Assets to conceal the sources and flows of the money.

Police Action: 20 individuals detained, 200,000 USDT confiscated

The Criminal Investigation Bureau recently launched a large-scale search operation, detaining 20 individuals involved in the case. After questioning by the Taipei District Prosecutor's Office, it was determined that Luo and Huang were at risk of colluding and destroying evidence, and they have been requested for detention and prohibition of meeting under the Money Laundering Prevention Act, which was approved by the court. During the operation, the special task force seized 200,000 USDT, valued at approximately NT$6 million, becoming a key piece of evidence in this case.

Money Laundering Model and Crypto Assets Risks

The Hero Pay case is not the first instance of the restaurant industry using Crypto Assets for Money Laundering. In March of this year, the Yunlin District Prosecutor's Office uncovered a case involving a family-run ginger duck restaurant in Nantou suspected of fraud and Money Laundering, with amounts exceeding 3 billion. These cases highlight the anonymity and cross-border mobility of Crypto Assets, making them a popular tool for criminal organizations to hide illicit gains. Although the technology behind Crypto Assets is neutral, it is easily exploited by criminals in the absence of regulation.

Legal Consequences and Impact on the Food Industry

Lawyer Jiang Huanghua pointed out that even if Luo and Huang did not directly participate in gambling, as long as they assisted in concealing the criminal proceeds, they would have violated the "Money Laundering Prevention Act," with a maximum sentence of 10 years in prison and a fine of up to 100 million. Although the operations of the two restaurants have not shown significant impact so far, the crowds continue during holidays, but the brand image and reputation may face long-term impacts.

Conclusion

The "Ming Xiang Yuan Ice Room" and "Dong Ying Fast Knife Hand" owners are involved in the Hero Pay Money Laundering case, which not only involves a massive fund of 3 billion dollars and 200,000 USDT but also reveals the high-risk nature of Crypto Assets in cross-border Money Laundering. As law enforcement continues to trace the final destination of the large cash flow, this case may become an important warning case in the history of Taiwan's restaurant industry and Crypto Assets regulation.