Story perspectives

62 Indicted in Prince Group Fraud; Chairman Arrested

3/4/2026

Summary

Story summary

On March 4, 2026, prosecutors indicted 62 individuals linked to the Prince Group for operating a scam network.
Chen Zhi, chairman of Prince Group, was arrested in Cambodia and deported to China.
U.S. authorities allege the conglomerate is involved in multibillion-dollar online fraud and money laundering.
Prosecutors say Chen Zhi funneled NT$10.8 billion into Taiwan to conceal proceeds.
Authorities seized NT$5.5 billion in assets, including 33 luxury cars auctioned in Taiwan.

History

Historical Context

Launched in 2013, Operation Choke Point aimed to combat fraud by investigating banks associated with high-risk businesses, including payday lenders. The initiative faced criticism for potentially infringing on due process and was officially ended in 2017. The recent indictment of 62 individuals linked to the Prince Group underscores ongoing challenges in regulating financial crimes, highlighting the need for stricter oversight in the financial sector.

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Story summary

On March 4, 2026, prosecutors indicted 62 individuals linked to the Prince Group for operating a scam network.
Chen Zhi, chairman of Prince Group, was arrested in Cambodia and deported to China.
U.S. authorities allege the conglomerate is involved in multibillion-dollar online fraud and money laundering.
Prosecutors say Chen Zhi funneled NT$10.8 billion into Taiwan to conceal proceeds.
Authorities seized NT$5.5 billion in assets, including 33 luxury cars auctioned in Taiwan.

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