Nine Taiwanese companies and three women were involved in the "BCH Group" fraud empire! Using Crypto Assets for Money Laundering, shell companies were set up in luxury homes.

The United States and the United Kingdom have teamed up to deliver a heavy blow to the Prince Group in Cambodia, exposing its “Pig-butchering scams” and money laundering schemes, and confiscating $15 billion worth of Bitcoin assets. Shockingly, nine companies and three women from Taiwan are involved, with registered addresses pointing to the Taipei luxury residence “Peace Garden.” (Background: Confiscation of 127,000 Bitcoins! The US strikes against the Southeast Asian “Pig-butchering Empire” Prince Group, simultaneously sanctioning the Huai Wang Group) (Background information: The New York Times reveals the money laundering empire “Huai Wang Group” in Cambodia, the world's largest black money supply chain) On October 14, the US and the UK jointly launched comprehensive sanctions against the Prince Group and its transnational criminal organization (TCO). The US Department of Justice (DOJ) has indicted the founder of the Prince Group, Chen Zhi, and confiscated Bitcoin worth approximately $15 billion, setting a record for the largest cryptocurrency seizure in US history. Background and criminal methods of the Prince Group The Prince Group was established in 2015 and is ostensibly one of Cambodia's largest corporate groups, with businesses spanning real estate, finance, consumer goods, and entertainment, owning Prince Bank, Jin Bei Group, and the cryptocurrency platform Byex Exchange, operating in over 30 countries worldwide. The US Treasury Department has accused the group of being the largest transnational criminal organization in Asia, establishing at least ten “fraud zones” in Cambodia, Myanmar, and Laos, forcing thousands to engage in “Pig-butchering” scams, human trafficking, and money laundering. The US has pointed out that the Prince Group's fraud zones are equipped with 1,250 mobile phones and 76,000 social media accounts, targeting victims in the US, the UK, and globally, defrauding amounts up to hundreds of billions of dollars. Most workers in these zones are of Chinese nationality, lured by fake job openings, and upon arrival, their passports are confiscated, facing beatings, electric shocks, and other forms of torture, with some even tortured to death or committing suicide. The group's founder, Chen Zhi, is said to personally oversee the operations of these zones, investing the scam proceeds into real estate in London and cryptocurrency money laundering channels. Taiwanese companies and individuals involved Notably, the US sanctions list named nine registered companies from Taiwan, including Lian Fan, Rui Du, Bo Ju, Cheng Shuo, Mai Yu, Ming Wan, and three unnamed Taiwanese women. These entities and individuals have been accused of being money laundering channels for the Prince Group, assisting in transferring the proceeds of the fraud (mainly in Bitcoin) through shell companies into the global financial system. Some of the companies are registered at the Taipei luxury residence “Peace Garden” (reported to be the residence of artist Jay Chou), but the addresses are mostly fictitious with no actual operational records. The legal representative of these companies is a Singaporean named Lin, suspected of collaborating with senior members of the Prince Group to set up shell companies in Taiwan to launder funds. The Financial Crimes Enforcement Network (FinCEN) of the US Treasury Department pointed out that the money laundering amounts involved by Taiwanese companies could reach hundreds of millions of dollars, with funds being laundered through crypto mixers, DEX, and real estate in London. The three Taiwanese women may serve as financial agents or managers of the shell companies, with their specific identities yet to be disclosed. Currently, the Financial Supervisory Commission of Taiwan and the Investigation Bureau of the Ministry of Justice have intervened to investigate, confirming that some companies are shells, and tracking the fund flows of Lin and the three women. Related reports CoinW statement: The exchange is unrelated to CoinX! Absolutely no senior executives involved in legal issues, maintaining compliance against fraud “CoinX” involved in money laundering of 2.3 billion! Colluding with scam groups, over a thousand victims, responsible person seeking 25 years in prison Heavy penalties for cryptocurrency fraud! A New York man fined $228 million for fraud, faces nine years in prison <Taiwanese 9 companies and 3 women involved in the “Prince Group” scam empire! Using cryptocurrency for money laundering, setting up shell companies in luxury residences> This article was first published in BlockTempo, the most influential blockchain news media.