Reported 9 months ago
The whereabouts of Tu Cheng-wen, the owner of Ruisen Jewelry Store, has been unknown since November last year when he escaped before the police search. In another underground money exchange case, Tu Cheng-wen, also known as the 'Money Laundering Godfather,' was sentenced to 3 years and 8 months in prison for illegally handling domestic and foreign currency exchange transactions according to the Banking Act. His appeal was recently rejected by the Supreme Court. Tu was involved in illegal money exchanges in Taiwan, Korea, and China, connecting the illegal exchange group with Taiwanese clients and facilitating transfers to designated individuals overseas, disrupting financial order and control. Furthermore, Tu is suspected of running online gambling and laundering the proceeds through his jewelry store to overseas accounts. While facing charges related to these crimes, Tu remains at large evading authorities, prompting criticism from lawmakers questioning the government's determination to combat money laundering and fraud.
Source: YAHOO