Why did the New Taipei District Prosecutors' Office refuse to accept over six million USDT in stolen funds in the case of the main suspect Guo Zemin being repatriated to Taiwan from the "88 Palace" incident?

Guo Zemin, who has been on the run for months, will not only face multiple charges upon his return to Taiwan, but also the complex political and business forces behind him, especially his relationship with Vice Premier of the Executive Yuan, Cheng Wen-Tsan, which has drawn much attention. Furthermore, the over six million USDT obtained illegally by Guo Zemin in the operation of illegal forex trading has not been handed over to the confiscation warehouse by the New Taipei District Prosecutors Office. Why?

Guo Zemin Deported Back to Taiwan

The head of the "88 Mansion," Guo Zemin, was suspected of multiple illegal activities. After fleeing overseas with Taiwanese and Cambodian passports for 9 months, he was detained upon entry into Thailand and deported back to Taiwan on August 10. Currently, the New Taipei District Court has ruled to approve his detention and ban on visits.

Guo Zemin Involved in Illegal Money Exchange of NT$21.7 Billion

According to reports from several media outlets, the New Taipei District Prosecutors' Office received this case in 2022. Guo Zemin has been involved in numerous charges:

• Fraud

• Money laundering

• Profit-making gambling

• Illegal domestic and foreign currency exchange

The New Taipei District Prosecutors' Office stated that Guo Zemin has been operating underground money exchanges since 2018, laundering illegal gambling proceeds and fraud funds through dummy companies, virtual currency accounts, third-party payments, and other means, handling at least NT$21.7 billion. The profit from exchange differentials exceeded NT$130 million.

Legislator: Mayor Ko Wen-je Assisted Guo Zemin in Land Speculation

Taipei City Councilor and Kuomintang legislator candidate Zhang Sigan pointed out on Facebook that after meeting at the 88 Mansion in March 2020, Guo Zemin and others purchased a large amount of farmland in Bade in November, right next to the new location of the GE01 station for the "Green Line Extension to Zhongli" in the forward-looking construction. He questioned if it was too coincidental.

Facing criticism from various sectors, former legislator Huang Kuo-chang also stated:

Despite professional opinions from previous reviews opposing the establishment of a metro station in the middle of fields, the decision was made to move the metro station to the farmland next to where the head of the fraud and money laundering group #Guo Zemin made his "accurate investment." Isn't the chairman of the meeting Ko Wen-je? Dancing with the head of a criminal organization involved in black money laundering to this extent, I can only say the shamelessness is breathtaking.

New Taipei Prosecutors Fear USDT Hack, Hesitate to Submit Confiscated Items to Warehouse

Currently, the New Taipei District Prosecutors' Office has arrested a total of 21 defendants including Guo Zemin, conducted searches in 27 locations, seized NT$44.12 million in cash, 6.41 million USDT coins, equivalent to about NT$206 million, and applied for the seizure of 20 properties owned by Guo Zemin in Taipei and Taoyuan.

However, the New Taipei prosecutors are reluctant to submit the confiscated USDT to the warehouse due to concerns about hackers infiltrating and stealing from cold wallets or causing damage. It is understood that the Kaohsiung District Prosecutors' Office has commissioned a Taiwanese wallet developer to create a multi-signature wallet with split private keys, but the New Taipei prosecutors are still storing the confiscated cryptocurrency funds in cold wallets, which poses risks of key loss and single-person possession. Therefore, the warehouse often refuses to accept them to avoid responsibility.

Sources: Huang Kuo-chang's Facebook, Zhang Sigan's Facebook, China Times, Storm Media.