In a twist of financial and legal intrigue, Taiwanese businessman Sheen Ching-Jing has reportedly accumulated a massive NT$6 billion (approximately MOP1.52 billion/US$190 million) in gaming debts to Alvin Chau, the former junket operator and head of the now-defunct Suncity Group. This revelation adds another layer to Sheen’s already complex legal troubles, as he remains embroiled in a corruption scandal that has shaken Taiwan.

Sheen, who serves as the chairman of Core Pacific Group, borrowed this staggering sum from a Hong Kong-based company run by Alvin Chau, according to reports from Taiwanese media outlet Mirror Media, cited by Macau Business. This debt was secured through 17 promissory notes signed between the two parties. However, Sheen’s failure to repay the borrowed amount has resulted in serious financial consequences.

Back in 2017, Hong Kong creditors made an attempt to recover the debt by targeting Sheen’s assets, including the Tao Zhu Yin Yuan, a luxurious residential tower in a prime location near Taipei 101. Known for its unique eco-friendly design, the Tao Zhu Yin Yuan features 23,000 trees and shrubs and stands as a prominent symbol of high-end real estate in the area. Unfortunately for Sheen, his inability to settle his debts led to the Taiwan Taipei District Court’s involvement, which attempted to seize these valuable assets in an effort to compensate the creditors.

Involvement in a Broader Scandal

Sheen’s financial difficulties are only one facet of his current legal woes. His role in a redevelopment scandal has also come to light, linking him to a high-profile investigation involving former Taipei mayor and one-time presidential candidate, Ko Wen-je. Ko, who previously garnered significant support among younger voters, was arrested earlier this month over allegations that he facilitated an illegal increase in the floor area ratio (FAR) for a luxury construction project, which in turn allegedly benefited Sheen’s business interests. Ko’s actions during his tenure as Taipei’s mayor from 2014 to 2022 are now under intense scrutiny.

Sheen’s relationship with Ko, as well as his alleged involvement in illegal development practices, has led to his detainment at the end of August, with investigations continuing into both individuals’ roles in the scandal.

Further complicating matters is the bribery case involving Taipei City councilor Angela Ying. Sheen is accused of offering Ying NT$47 million under the guise of a “donation.” However, the Taipei District Court has since ruled that this so-called donation was, in fact, a bribe related to the redevelopment project. This ruling has only intensified the scrutiny surrounding Sheen’s business dealings and his connections to local government figures.

As the investigation continues, several individuals, including Ko and former deputy mayor Pong Cheng-sheng, remain detained. The case continues to develop as more details emerge about the various illegal activities connected to the redevelopment project and Sheen’s mounting financial troubles.