Taiwan indicts 62 linked to alleged scam center in Cambodia

"Taiwan was one of the locations where Chen had funnelled illicit funds via shell companies, buying luxury goods, sports cars and real estate. This was done to conceal and disguise the source and flow of the criminal proceeds. The prosecution estimates the group remitted around T$10.8 billion funds into Taiwan from overseas for alleged money-laundering purposes."

"The Prince Group has also been accused by the US of being a front for a multibillion-dollar online fraud and money laundering operation. Beijing has called Chen Zhi, the founder of the Prince Group, the ringleader of a major cross-border gambling and fraud criminal syndicate. Cambodia has emerged as a hub for cyber crimes that involve luring internet users globally into fake romantic relationships and cryptocurrency investments."

"In addition to 62 people indicted, including Chen, 13 companies have also been charged with offences that include initiating, directing, manipulating, and commanding a criminal organization. They are then believed to have bought 24 properties, 35 vehicles, and held T$55.53 million in other assets such as cash, designer bags, and shoes. More than T$5.5 billion in assets have been seized in Taiwan."

Taiwan prosecutors indicted 62 individuals and 13 companies connected to the Prince Group, a multinational criminal organization accused of operating vast cyberscam centers from Cambodia. The group, founded by Chen Zhi, generated billions annually through online fraud and money laundering. Prosecutors allege the organization funneled approximately T$10.8 billion into Taiwan via shell companies to purchase luxury goods, real estate, and vehicles while concealing criminal proceeds. The group acquired 24 properties, 35 vehicles, and held millions in designer goods and cash. Taiwan authorities seized over T$5.5 billion in assets. The Prince Group faces accusations from the US and China for orchestrating multibillion-dollar fraud operations using trafficked workers to defraud victims globally through fake romantic relationships and cryptocurrency investment schemes.

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