Investigation into Prince Group’s Operations in Taiwan Sparks Public Outrage
A criminal investigation by Taiwanese prosecutors into the operations of the Prince Group, a well-known Cambodian scam and fraud crime syndicate, has sparked significant controversy after a suspect was captured smiling during her release. The incident has raised public concerns about the severity of the crimes committed and the perceived leniency of the legal system.
According to reports from local media, individuals linked to the Prince Group’s operations in Taiwan—focused on money laundering, fraud, and online gambling—were arrested en masse by prosecutors. Among those arrested, nine individuals were granted bail, including Liu Chunwei, who served as a secretary to Li Tian, the Chief Financial Officer (CFO) and close aide to Prince Group Chairman Chen Zhi. Liu, 39 years old, was released after posting a bail of 150,000 Taiwanese dollars (approximately 700,000 Korean won).
During her release, Liu Chunwei was photographed smiling and walking lightly as she left the prosecutors’ office. Local media reported that she was wearing a loose shirt and a top that exposed her chest, appearing relaxed and unbothered. This image quickly led to online outrage, with netizens criticizing her apparent lack of remorse and the relatively low amount of her bail.
Comments on social media included statements such as, “How many families have been destroyed, yet she smiles like that?” and “Despite criminal proceeds of 4.52766 billion Taiwanese dollars (approximately 200 billion Korean won), her bail was a mere 700,000 Korean won.” A prominent financial commentator also pointed out that the entire organization is intricately involved in the crimes, adding, “Although the judge may have deemed the secretary’s charges minor and set bail lower than the 300,000 Taiwanese dollars (approximately 1.4 million Korean won) for a military deserter fleeing overseas, this could have a highly negative impact on society.”
Sanctions and International Condemnation of the Prince Group
The Prince Group has long been under scrutiny for its involvement in fraudulent activities and human trafficking in Cambodia. The organization has faced sanctions from both the United States and the United Kingdom. Earlier, the U.S. Department of the Treasury designated the Prince Group as a “transnational criminal organization” and imposed 146 sanctions, indicting Chen Zhi on charges including online financial fraud and money laundering.
The U.K. government also sanctioned the Prince Group, along with Chen Zhi and related companies. As part of these sanctions, assets worth £12 million (approximately 23 billion Korean won) were frozen, including a mansion in London, a £100 million (approximately 190 billion Korean won) office building, and 17 apartments.
In response to these international actions, the Taipei District Prosecutors’ Office in Taiwan recently launched an investigation into the Prince Group and Chairman Chen Zhi. Authorities conducted a criminal investigation into 12 related companies, including Tienshi, a firm with offices on the 15th and 49th floors of Taipei 101, a landmark building in Taiwan. Additionally, real estate such as 11 luxury homes purchased using paper companies established by the Prince Group in Taiwan were targeted.
On the day of the raids, authorities arrested 25 individuals and requested bench warrants for five key figures in the Taiwan operations, including Wang Yitang. During the operation, law enforcement seized 26 luxury vehicles, over 60 bank accounts with large balances, and a total of 4.52766 billion Taiwanese dollars (approximately 211.7 billion Korean won).
Following the U.S. announcement of sanctions, suspects attempted to transfer ownership of high-end vehicles such as Rolls-Royces, Ferraris, Lamborghinis, and Porsches and relocate them overnight. However, these efforts were preemptively blocked by authorities, demonstrating the swift action taken to prevent the concealment of illicit assets.