Hong Kong police dismantle $142 million triad-linked gambling and laundering network

Hong Kong police have dismantled a HK$1.1 billion ($142 million) gambling and money-laundering network linked to the Sun Yee On triad, arresting 15 people following a yearlong investigation into operations spanning Kowloon and the New Territories.

Officers said the arrests included a 35-year-old alleged ringleader, described as a high-ranking member of the Sun Yee On. Superintendent Ching Chi-yan of the Yau Tsim police district identified him only by the nickname “Lo Yin,” adding that he had recruited his wife and girlfriend to help run the scheme.

Police seized HK$24.7 million ($3.2 million) in cash and assets from the suspect’s residence, including HK$16 million ($2.1 million) in cash, five luxury watches worth about HK$7 million, as well as jewelry, handbags, and foreign currency. Nine bank accounts holding HK$1.6 million were frozen.

Investigators said 21 personal bank accounts linked to the syndicate recorded HK$200 million in suspicious transactions between 2016 and 2025, despite the account holders reporting little or no income. Three corporate accounts under a finance company, allegedly used as a laundering front, moved a further HK$960 million from 2020 onwards.

The group is suspected of running illegal gambling dens and engaging in drug offences, loan-sharking, and extortion in Tsim Sha Tsui.

Sun Yee On, one of Hong Kong’s oldest and largest triad societies with more than 25,000 members worldwide, competes with rival gangs including 14K, Wo Shing Wo, and Chiu Chow for control of illicit rackets such as illegal gambling and loan-sharking.

The 15 suspects, 10 men and five women aged 27 to 62, were detained on suspicion of money laundering, triad activities, and operating illegal gambling venues. Five have been charged and are due to appear at Kowloon City Court, police said.

The operation comes amid a wider crackdown on illegal gambling in Hong Kong. Official figures show police arrested 5,731 people for gambling offences in 2021, 6,781 in 2022, and 6,101 in 2023. With few exceptions, including horse racing, football betting, and the government lottery, gambling in the city remains illegal.