Taiwan seizes US$145m linked to Cambodia’s Prince Group amid online gambling and fraud probe

Prosecutors have detained 25 suspects and confiscated luxury properties, vehicles and bank accounts.

Taiwan.- Prosecutors have detained 25 suspects and seized more than NT$4.5bn (US$145m) in assets tied to Cambodia’s Prince Holding Group amid a probe into transnational fraud, money laundering and online gambling operations allegedly directed by the conglomerate’s chairman, Chen Zhi.

The Taipei District Prosecutors’ Office confirmed that the seizures include 18 properties, 26 high-end vehicles, including Rolls-Royce, Ferrari and Lamborghini models, and 60 bank accounts valued at NT$235m (US$7.6m).

The action follows US and UK sanctions imposed on Chen and his network after an indictment accused the tycoon of running “one of Asia’s largest transnational criminal organisations” through shell companies, casinos and cryptocurrency ventures. Prosecutors say Prince Group operated forced-labour scam parks in Cambodia, using workers to conduct online gambling and crypto fraud schemes that targeted victims worldwide.

Taiwanese authorities launched their investigation in mid-October after receiving information from US agencies. A joint task force involving the Investigation Bureau and the National Police Agency conducted 47 simultaneous raids, targeting the Taipei offices of companies linked to the group, including Taiwan Prince Real Estate Investment Co. and Alphaconnect Investments Co.

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Prosecutors have detained 25 suspects and confiscated luxury properties, vehicles and bank accounts. Taiwan.- Prosecutors have detained 25 suspects and seized more than NT$4.5bn (US$145m) in assets tied to Cambodia’s…