"Taipei District Prosecutors Office announced Wednesday (March 4) that 62 defendants and 13 companies have been indicted. The charges include alleged organized crime activity, money laundering, illegal gambling operations, accounting violations and document forgery."
"Investigators say more than NT$10.7 billion ($340 million), flowed through the suspected network in Taiwan. The indictment identifies Chen Zhi, described by prosecutors as the head of the Prince Group, and Wang Yutang, whom authorities say oversaw the organization's activities inside Taiwan."
"Authorities say the operation was part of a cross-border criminal structure that operated largely from Cambodia, from where Chen was extradited from, while using companies and financial channels across several countries to move and disguise illicit proceeds."
Taipei District Prosecutors Office concluded a months-long investigation into the Prince Group, a Cambodia-based criminal organization, resulting in charges against 62 individuals and 13 companies. The charges encompass organized crime, money laundering, illegal gambling, accounting violations, and document forgery. Investigators identified Chen Zhi as the Prince Group's leader and Wang Yutang as the organization's Taiwan operations manager. More than NT$10.7 billion flowed through the suspected network in Taiwan. The investigation involved eight waves of search operations, nine defendant detentions, and seizure of luxury goods, vehicles, mansions, and financial accounts valued at over HK$5.5 billion. The operation functioned as a cross-border criminal structure primarily based in Cambodia, utilizing companies and financial channels across multiple countries to launder illicit proceeds.
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