Authorities arrest 25 suspects, confiscate 26 supercars and luxury real estate linked to Cambodia’s Chen Zhi, as global pressure mounts on transnational fraud networks.
TAIPEI (Market Insider)— In one of the largest anti-money-laundering operations in its history, Taiwan has seized more than NT$4.5 billion ($140 million) in assets and arrested 25 individuals linked to the Prince Group, a conglomerate accused of orchestrating cross-border fraud and money laundering schemes.
The sweeping raids, launched on November 4, followed criminal indictments and sanctions imposed by the United States and the United Kingdom against the network led by Cambodian businessman Chen Zhi, chairman of the Prince Group.
According to Mirror Media, the Taipei District Prosecutors Office coordinated a massive, multi-agency operation involving 47 simultaneous raids across the island, targeting shell companies, high-end apartments, and corporate offices allegedly used to conceal illicit funds. Among the key locations searched were the Tian Hsu Company inside the iconic Taipei 101 building and several luxury residences in the exclusive Peace Grand Court complex.
Luxury Cars, Real Estate, and Bank Accounts Frozen
Authorities seized a trove of high-value assets believed to be purchased with laundered money:
- 18 real estate holdings, including 11 luxury apartments and 48 parking spaces in the Peace Grand Court district, worth more than NT$3.8 billion ($123 million).
- 26 luxury vehicles, including Rolls-Royce, Lamborghini, Ferrari, Porsche, and Mercedes-Benz, with a combined value of NT$478 million ($15.5 million).
- 60 bank accounts containing NT$235 million ($7.6 million) in cash.
Taiwanese media described the operation as the largest asset seizure tied to money laundering in Taiwan’s history, underscoring growing coordination with international law enforcement.
Two Taiwanese women previously sanctioned by the U.S. Treasury Department — identified only by their surnames Huang and Thi — were among those detained.
A Global Fraud Empire Under Fire
Prosecutors allege that the Prince Group operated vast fraud compounds in Cambodia, exploiting forced labor to run scams involving investment fraud, crypto schemes, and online gambling. Profits from these operations were allegedly funneled through shell companies in Taiwan, Hong Kong, and other jurisdictions, then laundered through purchases of luxury goods, real estate, and vehicles.
“The scale and sophistication of the operation demonstrate how transnational criminal organizations are evolving,” a Taiwanese investigator told Market Insider. “These are not simple scams — they are multinational money machines exploiting digital finance and weak regulatory borders.”
Taiwan’s Expanding Role in Global Enforcement
The crackdown highlights Taiwan’s increasing commitment to international cooperation against cyber-enabled financial crimes, as the island faces rising risks from cross-border fraud networks operating across Asia.
Taiwan’s Bureau of Investigation emphasized that the coordinated seizure aims to “cut off the financial oxygen” of criminal syndicates and strengthen Taiwan’s reputation as a trusted financial jurisdiction aligned with global anti-money-laundering standards.
As investigations continue, prosecutors are pursuing charges of money laundering, organized crime, and illegal gambling, while international partners monitor the case closely for links to broader Southeast Asian fraud syndicates.
The Prince Group case serves as a stark reminder of the global scale of financial crime in the digital era — where luxury brands, crypto exchanges, and offshore shell firms can all become tools in an elaborate web of transnational deception.
