Cambodia's Prince Group is suspected of laundering over NT$10.7 billion (RM1.33 billion) in Taiwan. The Taipei District Prosecutors Office has indicted 62 individuals, including Prince Group head Chen Zhi, as well as 13 involved companies. Chen Zhi was extradited back to mainland China in January this year.
According to reports from Taiwanese media such as United Daily News and Liberty Times, the money laundering case involving Prince Group in Taiwan concluded its investigation after 140 days, with the case being finalized on the 4th.
The Taipei District Prosecutors Office uncovered illegal money laundering by the group totaling over NT$10.7 billion. During the investigation, movable and immovable assets worth over NT$5.5 billion (RM683 million) were seized. Based on violations of the Organized Crime Prevention Act, aggravated fraud, and the Money Laundering Control Act, the authorities have filed a public prosecution against the group’s founder Chen Zhi and 62 individuals, as well as 13 companies.
Reportedly, the prosecutors are seeking the statutory maximum penalty for each offense committed by Chen Zhi, 20 years imprisonment for his close associate Li Tian, and 18 years for the fugitive Chen Xiuling. Additionally, 24 individuals received deferred prosecution, one was not prosecuted, and arrest warrants have been issued for three fugitives. These three at-large individuals are Tianxu’s registered head, Singaporean national Yang Xingfa, mainland Chinese national Guo Bojun, and Malaysian national Chow Wing Soon (phonetic).
38-year-old Chen Zhi was born in China and obtained Cambodian citizenship in 2014. In December last year, he was stripped of his Cambodian citizenship and subsequently deported. In January this year, Chen Zhi was escorted back to mainland China and now holds the status of a mainland Chinese national.