Mingxiang Garden and Dongyin Quick Knife Shop Owner Involved in Money Laundering Profits of 300 Million: Full Analysis of Restaurant, Gambling, and Money Laundering Processes

According to domestic media reports, Luo Yixiang, the person responsible for operating the well-known tea restaurant Ming Xiang Yuan Ice Room and Dongyin Quick Knife Hand Noodle House, is suspected of using the office leased in the name of the restaurant as a base, while secretly operating gambling websites and managing HERO PAY payment and money laundering operations, facilitating money laundering for multiple overseas gaming operators.

Ming Xiang Yuan owner profits 300 million from gambling and money laundering operations

The report states that Luo Yixiang leased an office in the name of Ming Xiang Yuan Ice Room and colluded with third-party payment providers and dummy accounts to set up a third-party payment HERO PAY as a money laundering platform, as well as MATCH PAY for money laundering, with operations expanding to China, Japan, and India.

In addition, Luo Yixiang also operates the gambling website RICH11, which includes baccarat, slot machines, sports betting, and other gambling events, processing payments through HERO PAY. Besides his own gambling website, Luo Yixiang also handles financial flows for other gambling sites, managing a total of over 30.69 billion yuan, with Luo Yixiang personally profiting over 315.85 million yuan, some of which was used to invest in Dongyin Quick Knife Hand.

Prosecutors seize Porsche, virtual currency, and 60 million yuan in real estate

The Taipei District Prosecutors Office found that Luo handled a total of 30.6 billion yuan in money laundering within just four years, with personal illegal gains of about 310 million yuan. On the 5th, Luo and 34 co-conspirators were indicted under the Organized Crime Prevention Act and for money laundering, and the court was requested to sentence him to more than 9 years and 6 months in prison. After the case was transferred to Taipei District Court, the court approved Luo Yixiang’s bail of 5 million yuan.

The prosecutors confiscated cash, deposits, virtual currencies TRX(Tron), DOGE(Dogecoin), USDT, a real estate worth 60 million yuan, and a Porsche sports car.

This article “Ming Xiang Yuan and Dongyin Quick Knife Hand Owner Involved in Money Laundering Profits of 300 Million: Full Analysis of Restaurant, Gambling, and Money Laundering Processes” first appeared on Chain News ABMedia.