Continued Trial of Legislator Xu Qiaoxin’s Relative Involved in Alleged Cryptocurrency Money Laundering Case, Involving Fraudulent Amount Exceeding Ten Million
Legislator Hsu Chiao-Hsin’s elder cousin, Liu Xiang-Jie, along with her husband Du Bing-Cheng and friend Lin Yu-Lun, has recently become the focus of judicial investigation for their alleged involvement in money laundering activities for a fraud syndicate. This case not only involves a large amount of fund transfers but also complicates financial transactions and the virtual currency market, attracting widespread attention from society.
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Investigation for the Second Fraud, Fund Transfers Reaching NT$27 Million
Accounts Frozen, Continued Money Laundering through Others’ Accounts
Multilayered Transfers, Public Investment Fraud
More Co-conspirators Revealed in Ongoing Trial
In March of this year, Liu Xiang-Jie and her husband drew attention from the police again due to the unresolved previous case. Within just two months, the amount of funds involved in the case reached NT$27 million through virtual currency transactions, further deepening suspicions of money laundering. After a thorough investigation, the police found that these funds were withdrawn after several transfers and ultimately flowed into the public relations company account controlled by Ms. Liu.
According to prosecutors, the accounts of Liu Xiang-Jie and Du Bing-Cheng had already been flagged in previous fraud cases and were prohibited from use. In order to continue their money laundering activities, the couple resorted to using the public relations company account of Lin Yu-Lun, a high school classmate of Ms. Liu, for illegal fund transfers.
From July to September 2023, several people reported that their investment funds were mistakenly deposited into designated accounts and later discovered to have been deceived. The public relations company account became the final destination for these transfers, showing that Liu Xiang-Jie and others used drivers to withdraw and launder these illegal gains.
During the search operation on March 25th, the police arrested Liu Xiang-Jie and related individuals. Although they all denied any criminal behavior, the prosecutor had sufficient grounds to believe that they were involved in serious crimes, and therefore applied for their detention and prohibition of visitation. While Liu’s assistant was released on the same day, the police revealed more potential co-conspirators based on account and communication records, and the investigation is still ongoing.
This case continues to ferment, not only testing the fairness of Taiwan’s judiciary but also potentially affecting public perception of the behavior of politicians’ family members. As the investigation deepens, more details will gradually become clear.
Liu Xiang-Jie
Hsu Chiao-Hsin
Du Bing-Cheng
Lin Yu-Lun
Further Reading
Legislator Hsu Chiao-Hsin’s Relatives Involved in Virtual Currency Money Laundering Case, Police Investigate Couple and Associates for Profiting NT$27 Million
Hong Kong Monetary Authority Promotes Tokenization Market Development, Establishes Special Working Group.
