Global Crackdown on the Prince Group: Unveiling a Vast Scam Network
Taipei prosecutors uncover a major scam operation by the Prince Group, detaining 25 and seizing T$4.5 billion in assets. The group, linked to Cambodian businessman Chen Zhi, is accused of large-scale investment fraud, money laundering, and forced labour, with ties across multiple countries.
- Country:
- Taiwan
In a sweeping move, Taipei prosecutors have detained 25 individuals and confiscated T$4.5 billion in assets linked to the infamous Prince Group, a protest against international scam-centre operations.
The Prince Group, allegedly spearheaded by Cambodian businessman Chen Zhi, has been accused of orchestrating extensive forced-labour and investment fraud schemes. These operations involved cryptocurrencies and online gambling, with profits laundered through shell companies and luxurious acquisitions.
Following recent seizures in Singapore, investigative action continues as the group faces sanctions from Britain and the U.S. for defrauding victims globally, including coercing citizens into working in fraudulent setups in Cambodia and Myanmar.
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