‘Broken Tooth’ makes Hong Kong appearance prior to initial coin offering

Wan Kuok Koi walks out of Coloane Prison, Dec. 1, 2012

Macau’s most notorious former gang boss, “Broken Tooth” (Wan Kuok Koi), is allegedly involved in a cryptocurrency offering by a Macau junket operator, reported the South China Morning Post yesterday, citing authenticated photographs shared with the media outlet.

The photographs show Wan Kuok Koi and senior executives of joint venture partners Macau Dragon Group and Thailand-based Wi Holding Company at a signing ceremony for an initial coin offering (ICO).

The ICO hopes to raise some USD500 million in Hong Kong, making it the largest such offer to date.

The nature and extent of Broken Tooth’s involvement in the deal remains unknown, however his reputation is likely to disturb authorities.

A spokesperson for the Hong Kong Monetary Authority told the SCMP that they would not comment on individual cases, but warned of the risks associated with cryptocurrency trading, as it is often unregulated.

The ICO next month comes at an inauspicious time for mainland authorities, which only this month banned the creation and distribution of new digital currencies and cracked down on existing exchanges on speculation that they were fueling capital flight and money laundering.

Offerings can still be held in the semi-autonomous Hong Kong SAR, because that is where the tokens will be issued. However, it is believed that mainland authorities will be able to track the transactions through digital monitoring services.

The sexagenarian former triad boss was the leader of the notorious 14K group in Macau until he was arrested for several charges including money laundering. The time of his arrest came shortly after the bombing of a car belonging to a former chief police inspector, who was not injured in the attack.

Broken Tooth served 14 years behind bars before being released in 2012. Upon his release, the former gangster promised that his triad days were over.