Taiwanese prosecutors on Wednesday indicted 62 people who they say are linked to the Prince Group, a multinational network accused of operating large cyberscam centers out of Cambodia. The US has alleged the group acted as a front for a multibillion-dollar online fraud and money‑laundering operation.
Among those charged is Chen Zhi, the Prince Group’s founder. Beijing has described Chen as “the ringleader of a major cross‑border gambling and fraud criminal syndicate.” Chen was arrested in Cambodia and deported to China earlier this year.
Cambodia has become a focal point for transnational scam operations that lure victims into fake romantic relationships and fraudulent cryptocurrency schemes. Authorities and investigators say the industry expanded during the COVID‑19 pandemic, generates billions annually, and often relies on trafficked workers to perpetrate scams worldwide.
Taipei prosecutors allege Chen and associates funneled illicit funds into Taiwan through shell companies, using the proceeds to buy luxury goods, sports cars and real estate in an effort to disguise the origin and flow of criminal funds. Alongside the 62 individuals, prosecutors charged 13 companies with offences related to initiating, directing, manipulating and commanding a criminal organization.
The prosecution estimates roughly T$10.8 billion (about $339.12 million) was remitted into Taiwan from overseas for alleged money‑laundering. Those funds are believed to have been used to purchase 24 properties and 35 vehicles, and to hold T$55.53 million in other assets, including cash and designer items. More than T$5.5 billion in assets have been seized in Taiwan, the prosecutors’ office said.
The Prince Group has denied any wrongdoing in a statement released in November through a US law firm.
Edited by: Rana Taha