Prosecutors in Taiwan on Wednesday indicted 62 people for alleged links to the Prince Group, a multinational network accused of running large cyberscam centers out of Cambodia. The group has also been accused by the US of serving as a front for a multibillion-dollar online fraud and money‑laundering operation.
Beijing has described Chen Zhi, the founder of the Prince Group, as “the ringleader of a major cross-border gambling and fraud criminal syndicate.” Chen was arrested and deported to China from Cambodia earlier this year.
Cambodia has emerged as a hub for cybercrimes that lure internet users worldwide into fake romantic relationships and cryptocurrency investments. The transnational scam industry grew during the pandemic and is believed to generate billions of dollars annually, often using trafficked workers to defraud victims globally.
Taipei prosecutors say Taiwan was one of the destinations where Chen funnelled illicit funds through shell companies to buy luxury goods, sports cars, and real estate. “This was done to conceal and disguise the source and flow of the criminal proceeds,” they said.
Alongside the 62 individuals indicted, including Chen, prosecutors charged 13 companies with offences such as initiating, directing, manipulating, and commanding a criminal organization. The prosecution estimates the group remitted about T$10.8 billion (roughly $339.12 million) into Taiwan from overseas for alleged money‑laundering. Those funds are believed to have been used to purchase 24 properties, 35 vehicles, and to hold T$55.53 million in other assets, including cash and designer goods.
More than T$5.5 billion in assets have been seized in Taiwan, the prosecutors’ office added. The Prince Group denied any wrongdoing in a November statement issued via a US law firm.
Edited by: Rana Taha