Hong Kong Police have stated that an orchestrated takedown of a HK$1.1 billion ($141 million) Triad gambling network has been carried out.
The police issued a video conference around the bust, confirming that ten men and five women were apprehended on suspicion of operating gambling locations, money laundering, and other illegal activities.
It comes only weeks after authorities announced the seizure of luxury and cash assets linked to a cryptocurrency, gambling, and money laundering scheme involving Prince Holding Group’s founder, Chen Zhi, which totaled HK$2.75 billion ($354 million).
Hong Kong Police apprehend suspects
The press conference, led by Superintendent Ching Chi-yan, said the raid originated from the investigations into the Tsim Sha Tsui area of Kowloon that highlighted increased illegal activity in gambling, drugs, loan sharking, extortion, and fraud.
According to the South China Morning Post, the 15 arrests identified the ringleader of the group, with the police referring to his links to the Sun Yee On triad organized crime gang.
HK$24.7 million ($3.17 million) was seized from the ringleader’s home in Ma On Shan, including HK$16 million ($2 million) in cash and $90,000 in assets such as international currency and jewelry. The individual’s bank accounts have also been frozen as part of the gambling raid.
Hong Kong Police, during the news conference, confirmed that HK$200 million ($20 million) in suspicious transactions had been processed through accounts linked to the arrested parties, but no income was declared in connection with those accounts.
This flagged the anti-money laundering triggers the Hong Kong Police have in place, and the ringleader’s company is estimated to have handled HK$960 million ($123 million) in processed transactions since 2020.
Operation Thunderbolt
In the same week as the news conference, the Hong Kong Police also released details of a tactical deployment, Operation Thunderbolt 2025.
The operation took place across Guangdong and Macao and led to the arrest of 1,140 individuals linked to triad activity. The swooping police action reportedly also seized $548 million in assets linked to illegal activities.
The statement read that 1,700 locations were “successfully neutralized over 800 illegal premises, including gambling dens, vice establishments, divans and unlicensed bars.”
Featured image: Hong Kong Police
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