Taiwan detains 25, seizes $225m over ‘scam-centres’

Taipei prosecutors said they detained 25 people and seized millions of dollars in assets tied to the Prince Group, a multinational network accused of running major fraud hub operations.

Assets worth T$4.5 billion (A$225.08 million) include 26 high-end cars, properties, networked bank accounts and Cambodian businessman Chen Zhi’s money laundering and forced labor charges, prosecutors said in a statement.

“The group perpetrated large-scale investment fraud involving cryptocurrencies and online gambling through forced labor fraud in Cambodia,” they said.

“Proceeds from these frauds were transferred through shell companies established by the Prince Group in many countries and were laundered through the purchase of luxury goods and real estate, thus hiding the proceeds of crime.”

Reuters could not reach Chen or a representative for comment.

Last month, Singapore police seized more than S$150 million (A$177.35 million) in assets tied to Prince Group.

The seizures in Singapore and Taiwan follow the UK and US imposing sanctions on the Southeast Asia-based network, which is accused of operating large-scale online “scam hubs” that use trafficked workers to defraud victims around the world.

Taiwan said some of its citizens were tricked into traveling to Cambodia and Myanmar to work in fraud centres.