"Ten billion CEO" Chen Zhenggu was sentenced to 11 years in prison in August. Judgment on Jiuzhou Group money laundering case

Chen Zhenggu, who is known as the "Ten Billion CEO", was sentenced to 11 years and August. (File photo)

Jiuzhou Group was found to have developed a third-party payment system "OnePaid" through its subsidiaries for use by gaming groups. Over the past five years, its gambling cash flow reached 43.8 billion yuan. It also used multiple companies to transfer funds, laundering a total of nearly 33.0 billion yuan. The Taichung District Court found that "Ten billion CEO" Chen Zhenggu was guilty of organized crime and corruption and bribery. He was sentenced to eight years in June and five years in February respectively. The combined term should be 11 years in August and a fine of 90 million yuan. Xu Peijing, a core cadre known as the "most beautiful director", was sentenced to seven years in prison. Former TV reporter Shi Zhenkang was sentenced to five years in prison.

The remaining thirty-three defendants were each sentenced to prison terms ranging from two months to five years and eight months, and nine companies, including Xianggu, Ganggu, Oberson, and Weiqun, were each sentenced to fines ranging from 10 million yuan to 80 million yuan. The total fine for the natural person and corporate defendants in this case is as high as 579.35 million yuan.

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The total fine in this case reached more than 570 million yuan

Lin Mingzuo (renamed Lin Kangcheng), then the captain of the Taichung City Criminal Police Brigade, was found by the prosecutors to have leaked investigative information to Jiuzhou and accepted a price, and to have lived with former e-sports female director Xu Peijing. He was involved in corruption of more than 60 million yuan. Because he suffered from tumors and was in poor health, he was unable to complete the debate process and was tried separately from other defendants. The verdict has not yet been announced.

The whole case originated from the investigation of a fraud case by the Qiaotou District Prosecutor's Office and found that the stolen money flowed to Ganggu Technology Company. It asked the Taichung District Prosecutor's Office to investigate and found that Ganggu was a company owned by Kyushu. Since the year before last, it launched multiple waves of searches and seized real estate, luxury cars, cash and deposits with a total value of about 4.1 billion yuan. Chen Zhenggu and others were successively investigated. Among them, Chen Zhenggu was identified as the biggest celebrity in the Kyushu Group, and his subordinates handled gaming websites, third-party payment and financial services.

Xu Peijing, known as "the most beautiful Dong chair", was sentenced to 7 years in prison. (File photo)

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