Chairman of a prominent market association in Hualien embroiled in virtual currency fraud storm, authorities launch comprehensive search.

Recently, the chairman of the Hualien City Council, Representative Lee, has become the focus of investigation in a cryptocurrency fraud case. The prosecutor's office and the Criminal Investigation Bureau conducted raids on Lee Chen-wei's residence and related locations, uncovering a massive fraudulent and money laundering network.

On 3/19, prosecutors from the Hualien District Prosecutor's Office led Criminal Investigation Bureau personnel in a comprehensive search of Representative Lee's residence, office, and the city council office. This action is an extension of the investigation into cryptocurrency fraud cases discovered by the Criminal Investigation Bureau over the past year, aimed at probing suspicious financial flows related to Representative Lee and his company.

Citizen Representative Involved in Cryptocurrency Money Laundering

According to information provided by the prosecution, evidence shows that proceeds from fraud were laundered through cryptocurrency channels, with some of the funds suspected to have flowed into the company account of a representative surnamed Li and have already been withdrawn. This case not only involves fraud but also encompasses money laundering and organized crime.

Citizen Representative Known for Good Public Image

Li, a 40-year-old representative surnamed Li, is a well-known figure in Hualien City, having held various social positions including manager of a vegetable marketing cooperative and chairman of the Hualien City Youth Corps Committee. Since 2014, he succeeded his father and has been elected as a citizen representative for three consecutive terms, becoming the chairman of the representative council in 2022. He is active on social media and is beloved by the public for his humorous personality and filial image. His successful weight loss story has also received widespread praise.

Supporters Shocked by Money Laundering Case

The news of the search operation and the investigation of Representative Li has shocked his supporters. This case not only highlights the role of cryptocurrency in financial crimes but also raises public awareness that even respected figures in society may be involved in illegal activities.

The Hualien District Prosecutors Office and Criminal Investigation Bureau will continue to investigate this case in depth, particularly focusing on the specific details involving fraud, money laundering, and organized crime. The prosecution has not provided a clear explanation of the extent of Representative Li's involvement, and the further developments of the case are under high public scrutiny.