Taiwan prosecutors seek 20 & 18-year prison terms for 2 S'poreans linked to S$430 million Cambodia-based Prince Holding Group case

Taiwanese prosecutors indicted 62 people and 12 companies linked to the Cambodia-based Prince Holding Group for allegedly laundering more than NT$10.7 billion (S$430.6 million) in illegal funds.

On Mar. 4, the Taipei District Prosecutor's office completed its investigations which included eight search operations and the detention of nine people, reported Taipei Times.

Two Singaporeans were charged and Taiwanese authorities are seeking sentences of 18 years with an NT$150 million (S$6 million) fine and 12 years with an NT$100 million (S$4 million) fine respectively.

"To [allegedly] conceal and disguise criminal proceeds, they exploited Taiwanese nationals to carry out money-laundering activities in Taiwan through online gambling and underground remittances."

These operations began on Oct. 15, 2025, a day after the U.S. Department of Treasury's Office of Foreign Assets Control (OFAC) named Prince Holdings's nine shell companies and three Taiwanese nations as Specially Designated Nationals.

35 luxury cars & 24 real-estate properties seized

Taiwanese authorities seized more than NT$5.5 billion (S$221.4 million) in assets thus far including NT$55 million (S$2.2 million) in designer goods and cash, NT$447 million from 337 bank accounts and 24 real-estate properties worth NT$3.98 billion (S$160.2 million).

35 luxury cars worth NT$1.1 billion (S$44.2 million) were also seized.

The Taipei District Prosecutor's office said that this incident, has "not only seriously disrupted Taiwan's financial order and social stability but also damaged Taiwan's international image".

Prosecutors added Chen's alleged accomplice Li Tian is also facing a 20-year prison sentence and an NT$250 million (S$10 million) fine.

Prosecutors are requesting for six to 16 year jail terms for the other defendants.

Chen Zhi

According to Taipei Times, Prince Holding Group's founder, Chinese-born Chen Zhi is facing up to 13 years in prison with prosecutors seeking the maximum sentence.

He allegedly ran forced forced labour scam compounds and illicit gambling networks in Cambodia.

Chen set up a network totalling 250 companies across 18 countries and held 453 international bank accounts.

Chen's charges include money laundering, conspiracy, document forgery.

He has since been extradited to China and had his Cambodian citizenship revoked.

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Top photo from Prince Holding Group/Website