The Taipei District Prosecutors Office executed a coordinated, large-scale operation last week targeting the alleged criminal enterprise of Cambodia’s Prince Group and its chairman, Vincent Chen Zhi, following recent U.S. indictments and Treasury sanctions. On November 4, Taiwanese investigators and police conducted simultaneous searches across five locations in Taipei, including offices within the prestigious Taipei 101 skyscraper, rounding up 25 individuals for questioning, including one of Chen’s key Taiwanese aides. The extensive probe centers on serious allegations of organized crime, illegal gambling, and money laundering, resulting in the seizure of significant assets, including luxury vehicles, high-end real estate, and bank accounts valued together at approximately NT$4.527 billion (approximately $140 million USD).
Unpacking the Allegations of Corporate Misconduct
The complex investigation outlines a transnational operation that allegedly mixed financial crime with the provision of illicit services. Authorities allege that the Prince Group maintained a sophisticated financial and operational infrastructure in Taiwan to support overseas betting platforms. Two companies were reportedly established: Tianxu International, which occupied two floors in Taipei 101 to develop user interfaces, and a firm in Neihu providing customer service for gamblers. The Criminal Investigation Bureau (CIB) has since frozen about NT$245 million held across 60 bank accounts linked to these alleged activities.
Beyond financial crimes, investigators accuse a senior “general affairs” manager, Lee Shou-li, of facilitating sexual services for group executives and VIP guests. Lee, reportedly a former manager at the Long Heng nightclub, allegedly leveraged extensive contacts to recruit hostesses, models, and influencers to travel abroad for paid sexual encounters. Media accounts suggest that Chen, whose preferences reportedly included Taiwanese women for their “attentive service,” utilized three luxury yachts to host three-day, two-night parties in Southeast Asian waters. An internal incident revealed the extent of these arrangements, with reports suggesting Chen’s associate, Li Thet, attempted to pay a Taiwanese hostess NT$3 million, while Lee allegedly negotiated a standing monthly arrangement for NT$1 million.
Asset Seizures and Detention Orders
The enforcement actions led to 11 detentions on November 4, among them a company head surnamed Wang. Seized items included 11 high-performance cars, 62 computer towers, and various documents. Following extensive interviews, the prosecutors sought detention orders for the executive surnamed Wang, the alleged sex broker Lee Shou-li, and a driver, Chiu Tzu-en, citing suspected violations of anti-money laundering statutes, the organized crime law, and fraud offenses.
In a separate move on October 27, prosecutors obtained freezing orders on substantial Prince Group assets in Taiwan. These include 11 residential units and 48 parking spaces at the exclusive high-end Peace Palace—a residential complex notable for hosting celebrity residents—with a market value exceeding NT$3.8 billion. An additional 26 luxury vehicles were also placed under asset seizure.
Attempted Liquidation of Assets
Further complicating the case were attempts by Chen’s associates to swiftly liquidate luxury holdings after the U.S. Department of Justice announced charges. Authorities believe Chen instructed Li Thet to direct a dedicated driver in Taiwan to sell high-value automobiles through second-hand dealers to raise immediate cash. Among the quickly-offloaded assets were a rare $\text{Rolls-Royce Phantom}$ (valued at over NT$40 million when new), a Ferrari sold to a dealer in Neihu, and a Toyota Alphard. The two used-car dealers involved in these transactions were subsequently questioned on suspicion of aiding in the disposal of criminal assets.
The concerted action by Taiwanese authorities demonstrates a significant commitment to countering transnational organized crime and money laundering, aligning with international efforts to disrupt illicit financial networks operating under the guise of legitimate business. The case is expected to proceed with detailed financial and organizational investigations into the full scope of the alleged Prince Group enterprise in the region.