A Tan Sri, named Chuang Chou-wen, a billionaire chairman of a financial holding headquartered in Taichung, Taiwan, has been arrested on Nov 4 for his alleged connection to illegal gambling and money-laundering.
According to Apple Daily, Taiwan Police busted an underground gambling and money laundering operation since Aug 11 and the police believed Chuang is the leader of the crime ring. However, he managed to escape from authorities on August.
The legendary tycoon, chairman of Xin Li Wang Intl. Holding Group — who holds honorary titles from three Southeast Asian nations.In Malaysia, Chuang had the title of Tan Sri — the highest title bestowed by the king and of which there are less than 500; in Cambodia, he received the title of Oknha for his investment in the country; and in Indonesia, he was recognized as a Justice of the Peace.
The billionaire started his electrolyzed water business from scratch, amassing a great fortune. Well before the Taiwan government’s New Southbound Policy began to take hold, Chuang turned to real estate and expanded his reach to Southeast Asia.
His overseas investments span several ASEAN countries, including Cambodia, Malaysia, Indonesia, and Laos, according to LTN reports. His financial holding pours money into the technology and construction sectors in Malaysia, land development deals in Cambodia, and he was even appointed as a board director of the Lao Construction Bank.
The tycoon’s financial holding reportedly made successful investments in restaurants, yacht businesses, gaming machines, and the multi-billion dollar online gaming industry.
The police seized 13 of his luxury cars from his mansions and Gulfstream G650ER jet. Those luxury cars include Bugatti, Lamborghini, Bentley, Rolls Royce, Mclaren , Mercedes S550, Morgan Vintage car and Porsche. Police even hired professionals to drive off his luxury cars.
He also owned more than 100 properties just in TaiChung District. In recent years, he had dedicated himself to charity and the promotion of sporting events.
Even when he was on the run, he was LV hand luggage worth TWD 200,000 (RM 30,000) , 17 mobile phones, 10 over bank cards and with cash TWD 432,000 ( RM 63,000).
His alleged connection to the criminal ring came as a surprise to Taiwanese media.