Taichung: A Taichung man and six bank managers were indicted on Thursday for their involvement in laundering NT$3.6 billion from fraud and gambling rings using corporate accounts.
According to Focus Taiwan, the Taichung District Prosecutors Office received a tip-off last December about Hung Yueh-peng, the owner of Wan Li Development Ltd., who was allegedly laundering money through various accounts. The investigation, conducted by prosecutors, the Investigation Bureau, and Taichung police, revealed Hung's collaboration with several branch managers of Taichung Commercial Bank.
The indictment detailed that Hung instructed managers at Taichung Bank's Tanzi, Beitun, Zhongzheng, and Toufen branches to establish corporate accounts for 12 shell companies between September 2024 and April 2025. These accounts had their transfer limits raised to as high as NT$20 million, and the managers delayed reporting suspicious activities to authorities.
Despite some cases being reported, the managers failed to take appropriate actions, such as suspending or terminating the accounts, to prevent further money laundering. The illicit funds, amounting to over NT$3.6 billion, were funneled through Hung's accounts with the aid of the bank managers.
Prosecutors, following their investigation, conducted searches of Hung's company and four Taichung Bank branches in March. They seized bank deposits and real estate valued at over NT$200 million. The indictment not only charges Hung but also the managers and assistant managers of the implicated bank branches.
The charges against the suspects include aggravated fraud, gambling, forgery, breach of duty under the Banking Act, as well as violations of the Anti-Money Laundering Act and Organized Crime Prevention Act. Additionally, Hung and two branch managers have been detained pre-charge, and prosecutors have sought court approval to continue their detention as the trial approaches.