Taiwan has filed one of its largest cases yet against an alleged scam empire. Prosecutors there indicted 62 people and 13 companies tied to Prince Group, a Cambodia-linked conglomerate, and named its founder Chen Zhi among the defendants. The Prince Group Taiwan indictment alleges that roughly NT$10.8 billion was laundered into Taiwan between 2016 and 2025. The allegations have not been proven in court.
Key facts
- Taiwan prosecutors indicted 62 people and 13 companies tied to Prince Group on March 4, 2026, according to Reuters.
- Prosecutors allege the group laundered roughly NT$10.8 billion into Taiwan between 2016 and 2025.
- Chen Zhi, founder of Prince Holding Group, was among those indicted in Taiwan, according to Reuters and local reporting.
- U.S. prosecutors separately charged Chen with wire-fraud and money-laundering conspiracies, alleging Prince Group ran forced-labor scam compounds.
- The defendants have been charged, but none of the allegations have been established by conviction.
What the Prince Group Taiwan Indictment Alleges
According to Reuters, Taiwanese prosecutors say the defendants operated as an organized group that moved illicit money into the island over nearly a decade. The alleged period runs from 2016 to 2025. The sum cited is about NT$10.8 billion.
Prosecutors also allege the wider network connected to scam operations based in Cambodia. Those operations, they say, were built around online investment fraud and romance fraud. Victims are typically lured into fake trading platforms or fake relationships and then pressed to send more money.
Authorities seized property, vehicles, cash and luxury goods as part of the case, according to the reporting. Seizures like these are usually meant to preserve assets while the court process plays out. They do not amount to a finding of guilt.
Who is Chen Zhi?
Chen Zhi is the founder of Prince Holding Group, widely known as Prince Group. Prosecutors in Taiwan included him among the people indicted. Reuters and local outlets report that he is a central figure in the case, which now stretches across Taiwan, Cambodia, China and the United States.
Chen has been charged, which is a formal accusation and not a verdict. Readers should treat every claim about his conduct as an allegation until a court rules.
The Timeline: March 4, 2026, Not October
Some pages about the case were updated or resurfaced around Oct. 4, which has led to confusion. Taiwan's 62-person indictment was originally announced on March 4, 2026. It should not be described as a brand-new October indictment.
The date matters for anyone sharing the story. Recycled headlines can make an older development look like breaking news, and that is a common route for misinformation. Check the original report date before you repost.
The U.S. Case Against Chen Zhi
Taiwan is not the only jurisdiction acting. U.S. prosecutors have charged Chen with wire-fraud and money-laundering conspiracies. They allege that Prince Group operated forced-labor scam compounds and used sophisticated money-laundering methods to move proceeds.
The Associated Press has covered the case's links to Cambodia and China. The matter gained international prominence after authorities moved against billions of dollars in alleged criminal proceeds and assets.
What are forced-labor scam compounds?
Forced-labor scam compounds are walled sites, mostly in Southeast Asia, where workers are alleged to be held and made to run online fraud scripts. Many are reportedly trafficked there under false job offers. U.S. prosecutors say Prince Group operated compounds of this kind, and the company is accused, not convicted.
Money Trail: Frozen Funds Across Borders
The financial side of the case reaches beyond Taiwan. A Bloomberg report, per its headline, said Singapore and Taiwan found $700 million tied to an alleged scam kingpin. That points to a multi-country effort to trace assets.
Tech and security outlet The Record also covered the 62 indictments. Taiwan News carried local coverage of the matter as well. Together, the reports describe a coordinated crackdown by several governments.
Why laundering cases are hard to build
Money laundering cases rely on tracing funds through layers of companies, accounts and assets. Prosecutors must show where the money came from and how it was moved. That is why the indictment names 13 companies alongside the 62 individuals.
How Investment and Romance Scams Work
The scam types named in this case are some of the most costly for ordinary people. Both rely on trust built over time, often through messaging apps and social media. Common patterns include:
- A stranger makes contact and quickly moves the chat to a private app.
- The contact builds a friendship or romance over days or weeks.
- The victim is steered to a fake trading or crypto platform that shows made-up profits.
- Small withdrawals are allowed at first to build confidence.
- Larger deposits are requested, then withdrawals are blocked with new fees.
For a broader view of the scale, see our report on FinCEN's findings on crypto investment scams worth $12 billion. Scammers also now use fake celebrity video and audio to pitch these schemes, as in this AI deepfake investment scam case involving $250,000.
What Happens Next in the Case
The indictment moves the matter into the court phase in Taiwan. Defendants will be able to respond to the charges, and a court will weigh the evidence. The U.S. case against Chen runs on a separate track.
Several things are worth watching:
- Whether Taiwanese courts set trial dates for the 62 individuals and 13 companies.
- Whether more assets are seized or frozen in Taiwan, Singapore or elsewhere.
- How the U.S. wire-fraud and money-laundering case progresses.
- Whether Cambodian and Chinese authorities take further action.
How to Protect Yourself From Scam Network Fraud
Cases like this show that fraud rings can look like legitimate businesses. Individual victims rarely see the structure behind the pitch. A few habits cut your risk sharply.
- Never send money to someone you have only met online, however warm the relationship feels.
- Verify any investment platform with your national financial regulator before depositing funds.
- Be wary of guaranteed returns or pressure to act fast.
- Stop paying if you are told you must pay a fee to withdraw your own money.
- Keep screenshots, wallet addresses and chat logs as evidence.
If you have lost money, report it quickly. U.S. residents can file at the FTC's ReportFraud site and at the FBI's Internet Crime Complaint Center. Contact your bank at once, since early reports sometimes allow transfers to be flagged.
Bottom Line on the Prince Group Case
The Prince Group Taiwan indictment is a significant step in a case spanning four jurisdictions. Prosecutors allege a laundering operation worth about NT$10.8 billion and ties to Cambodian online scam centers. The defendants, including Chen Zhi, have been charged but not convicted.
Stay skeptical of unsolicited investment and romance approaches, and share this article with anyone who might be a target. Browse more of our coverage at Blacklist to keep up with new scam cases and warning signs.
Frequently Asked Questions
What is the Prince Group Taiwan indictment?
Taiwan prosecutors indicted 62 people and 13 companies tied to Prince Group on March 4, 2026. They allege the group laundered roughly NT$10.8 billion into Taiwan between 2016 and 2025. The allegations have not been proven in court.
Who is Chen Zhi?
Chen Zhi is the founder of Prince Holding Group and is a central figure in the case. He was among those indicted in Taiwan, and U.S. prosecutors have separately charged him with wire-fraud and money-laundering conspiracies. He has been charged but not convicted.
Is the Prince Group indictment new as of October?
No. Taiwan's 62-person indictment was originally announced on March 4, 2026. Some pages were updated or resurfaced around Oct. 4, but that does not make it a new October indictment.
What scams are linked to Prince Group?
Prosecutors allege the wider network was connected to Cambodian scam operations built around online investment fraud and romance fraud. U.S. prosecutors also allege Prince Group operated forced-labor scam compounds. These claims remain unproven.
How do I report an online investment or romance scam?
In the U.S., file a report with the FTC at reportfraud.ftc.gov and with the FBI's Internet Crime Complaint Center at ic3.gov. Contact your bank right away and keep all messages, receipts and wallet details as evidence.
