Taipei: Taiwanese law enforcement authorities have launched an investigation after the U.S. Department of the Treasury designated a Cambodia-based business group involving Taiwanese nationals and companies as a transnational criminal organization (TCO). In a statement Thursday, the Taipei District Prosecutors Office and the Ministry of Justice’s Investigation Bureau said the case is under review, without providing further details.
According to Focus Taiwan, a press release issued Tuesday by the U.S. Treasury announced sweeping sanctions on 146 targets linked to the Prince Group, led by Cambodian national Chen Zhi. The Treasury described the group as operating a transnational criminal empire through online investment scams targeting Americans and others worldwide.
“Chen Zhi is a 38-year-old Chinese ©migr© who has since renounced his Chinese citizenship and has built a business empire in Cambodia through the Prince Group TCO,” the statement said. The Treasury’s Office of Foreign Assets Control (OFAC) also listed Chen as holding additional citizenships in Vanuatu and Cyprus, and as having previously lived in Singapore, Taiwan, and the United Kingdom.
OFAC’s sanctions list includes three Taiwanese nationals and nine Taiwan-registered companies linked to Chen. In a written response Thursday, Taiwan’s Criminal Investigation Bureau (CIB) stated that the case involves unilateral sanctions imposed by the U.S. Departments of Justice and Treasury, and that U.S. law enforcement authorities have not requested Taiwan’s assistance.
The CIB added that it would seek information from the U.S. and investigate if any Taiwanese are found to have broken the law.
