Hong Kong Police Smash HK$1.1 Billon Triad Gambling Network

One of the most well-established organized criminal organizations in the area, the Sun Yee On triad, was involved in a gambling and money-laundering network worth HK$1.1 billion (US$142 million), according to Hong Kong police.

The raids, which were the result of a year-long investigation that targeted residences in Hong Kong's New Territories and Kowloon districts, resulted in the arrest of fifteen people. The 35-year-old suspected ringleader, a senior Sun Yee On member, was one of them, according to the police.

Millions of People Captured

The inquiry started when organized crime, including illicit gambling, drug use, loan sharking, and extortion, was seen in Hong Kong's upscale Tsim Sha Tsui district. Two underground gaming establishments connected to the syndicate were also raided by police.

The suspect was solely referred to by the moniker "Lo Yin" by Yau Tsim police district assistant commander Superintendent Ching Chi-yan. According to Ching, Lo Yin enlisted the assistance of his girlfriend and wife.

Investigators confiscated HK$24.7 million (US$3.2 million) in cash and goods from the man's home, including jewelry, purses, various foreign currency, five expensive watches valued at approximately HK$7 million (US$900K), and HK$16 million (US$2.1 million) in cash. Nine bank accounts totaling HK$1.6 million (US$210,000) were also frozen by the police.

 

The Sun Yee on Triads: Who Are They?

With more than 25,000 members globally, Sun Yee On is one of the most well-known and established triad organizations in Hong Kong. It engages in illegal gaming, drug trafficking, loan sharking, and extortion.

Sun Yee On competes with rival 14K, Wo Shing Wo, and Chiu Chow triad factions for control of those rackets.

Police claim that the scheme transferred its funds through a financing company that appeared to be legitimate but actually served as a hub for money laundering.

According to investigators, 21 personal bank accounts connected to the conspiracy transferred around HK$200 million (almost US$26 million) in dubious transactions between 2016 and this year. Many of the account holders reported little to no income.

About HK$960 million (approximately US$124 million) was managed by three business accounts under the same finance company starting in 2020.

Ten men and five women, ages 27 to 62, were among the suspects; five of them had already been charged and were due to appear in Kowloon City Court on Monday, according to the force.

 

Governmental Crackdown

The Hong Kong government is stepping up its efforts to combat organized criminal infiltration and illicit gaming.

The majority of gambling activities are illegal in Hong Kong unless they are specifically permitted. The government lottery, football betting, and horse racing are the sole exceptions.

The Hong Kong government recently released statistics showing that between 2021 and May 2024, the police detained 5,731 people for unlawful gambling offenses in 2021, 6,781 in 2022, and 6,101 in 2023.