Guo Zemin again fought for bail, insisting that he would not be immune from the ban imposed by the district court.

Guo Zemin‘s Legal Proceedings

Guo Zemin, the head of 88 Guild Halls, was released on bail after being charged with operating an underground currency exchange and online gambling websites. Reports indicate he was involved in transactions totaling at least 21.7 billion yuan. Guo returned to Taiwan from Thailand in August after law enforcement deported him. He faced over a year in detention.

On November 8, the New Taipei District Court granted Guo bail, initially set at 50 million yuan. However, prosecutors protested this decision, leading the High Court to revise the bail amount to 100 million yuan. Guo was prohibited from leaving Taiwan for eight months and must report his location daily while wearing an electronic monitoring device.

Prosecutors argued that Guo had ample resources to flee and access to international bank accounts. They sought a higher bail amount, stating that Guo posed a flight risk. Guo denied these claims, asserting that he was innocent of the charges against him and claiming certain witnesses provided false testimony.

In court, Guo stated that his foreign bank accounts were frozen, leaving him without funds. His defense lawyer emphasized that electronic monitoring had shown no violations since his bail on November 18, countering allegations of flight risks. They noted Guo’s legal ownership of a Cambodian passport, which was revoked when he returned to Taiwan.

Zhang Jusheng, Guo’s younger brother, maintained compliance with bail conditions and expressed hope for his release. His lawyer criticized the legal process, arguing it unfairly questioned the High Court’s decisions.

The New Taipei District Court decided to extend Guo Zemin and Zhang Jusheng’s detention ban, stating the original concerns about flight risks and legal violations remained. The case continues to develop, with Guo and Zhang’s legal teams preparing further arguments.