Key Moments:
- Taiwanese prosecutors have seized approximately NT$4.53 billion (US$146.4 million) in assets linked to Prince Holding Group.
- Law enforcement detained 25 suspects and carried out 47 simultaneous raids targeting luxury real estate and vehicles.
- Singaporean authorities have also confiscated over S$150 million (US$115.9 million) in connection with the syndicate.
Coordinated Crackdown Follows International Sanctions
Taiwanese law enforcement has taken decisive action against Prince Holding Group, an organization based in Cambodia and headed by Chen Zhi. Authorities allege the group has been central to one of Asia’s largest forced-labor scam operations involving online fraud and widespread money laundering activities across multiple jurisdictions.
This high-profile move follows sanctions and indictments from the United States in October, which targeted Chen and various associates for charges encompassing transnational fraud and the movement of illicit funds. The US Department of the Treasury issued sanctions affecting Taiwanese individuals and companies related to Prince Group, prompting an immediate response from Taiwanese officials.
Extensive Asset Seizures Target Lavish Properties and Funds
The Taipei District Prosecutors Office established a specialized task force on October 15 and worked alongside the Investigation Bureau and National Police Agency to track the organization’s financial infrastructure. On November 4, a wide-reaching enforcement action saw 47 coordinated raids across Taipei, impacting several group affiliates, including Taiwan Prince Real Estate Investment Co. and Alphaconnect Investments Co.
Authorities confiscated 18 luxury properties, primarily upscale apartments and parking spots in the prestigious Peace Palace complex, with a reported value of NT$3.81 billion (about US$123.17 million). In addition, 26 high-end vehicles from manufacturers such as Rolls-Royce, Ferrari, and Lamborghini were secured, totaling NT$477.58 million, equivalent to US$15.45 million. Over 60 bank accounts containing nearly NT$235.87 million (around US$7.63 million) were also frozen.
| Asset Type | Quantity | Value (NT$) | Value (USD) |
|---|---|---|---|
| Luxury Properties | 18 | 3,810,000,000 | 123,170,000 |
| Luxury Vehicles | 26 | 477,580,000 | 15,450,000 |
| Bank Accounts Frozen | 60+ | 235,870,000 | 7,630,000 |
| Total | 4,523,450,000 | 146,250,000 |
A Taipei District Court ruling on October 27 reaffirmed the scope and pressing nature of the asset seizures, emphasizing Taiwan’s determination to halt the illicit outflow of criminal proceeds.
Here’s Taiwanese news footage on the major money-laundering case tied to Cambodia’s Prince Group and its chairman, Chen Zhi. Authorities say the group funneled over NT$4.5 billion (about US$140 million) through shell companies in Taiwan, buying luxury condos and supercars to… pic.twitter.com/LM7d8qVs2T
— Jacob in Cambodia 🇺🇸 🇰🇭 (@jacobincambodia) November 5, 2025
Exposing the Syndicate’s Fraud Operations
Information from Taiwan’s Investigation Bureau indicates the Prince Group was managing forced-labor scam operations in Cambodia, targeting victims around the globe with fraudulent cryptocurrency investment and online gambling schemes. Reports reveal the trafficking of individuals to facilities in Cambodia and Myanmar, where they were compelled to participate in these illicit activities.
Financial investigations uncovered how the syndicate channeled profits through intricate networks of shell companies, then laundered the proceeds by investing in luxury items and real estate to conceal the criminal origins.
Broader Regional and International Action
Law enforcement agencies outside Taiwan, particularly in jurisdictions such as South Korea, Hong Kong, and Singapore, have engaged in parallel investigative and seizure efforts involving the group. Notably, Singaporean police have confiscated more than S$150 million (US$115.9 million) in assets linked to this syndicate.
These operations are part of a broader, ongoing international initiative aimed at dismantling an extensive cross-border scam network, which is believed to have exploited thousands through complex money-laundering methods.
Implications for Global Investors and Enforcement
The aggressive series of asset freezes and arrests led by Taiwanese authorities underscores increasing resolve across the Asia-Pacific region to counteract technology-enabled organized crime. These synchronized enforcement measures, supplementing US-led sanctions, highlight vulnerabilities in global financial systems exploited by such criminal enterprises.
Officials within Taiwan stress that by targeting high-level principals, affiliated companies, and substantial illicit assets, they intend to disrupt Prince Group’s operations decisively. These developments represent a significant move in tackling the rising complexity of cross-border cyber-fraud and financial exploitation.
Taiwan’s persistent efforts, marked by task force coordination, international cooperation, and asset seizure, reflect the region’s strengthened resolve to safeguard investors and markets from sophisticated criminal syndicates.
- Author
Daniel Williams
