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Prince Group Indicted by Taipei District Prosecutors Office for Transnational Money Laundering; 13 Companies Seek Severe Penalties | CTS News Reporter Zhao Ruoping
News link:https://youtu.be/PrSaZI9Fsjo?si=NMzc0Ywzr2vd6pYS
The Prince Group was accused of transnational money laundering. Prosecutors indicted 62 people and held a detention hearing. The nine defendants who were originally detained tried all sorts of tricks to get bail. Chen Weizhi, the head of the water room, even used "turtles" as a reason, saying that "if you keep turtles at home, your wife won't take care of them," which left the judge dumbfounded. However, considering that the prosecution had sufficient evidence, the court finally ruled that all nine senior executives of the Prince Group be released on bail.
Attorney Li Yusheng of Fidelity Law Firm stated that although the nine detained defendants in this case are suspected of serious crimes and have the ability to flee or remain overseas, considering that the prosecution has completed its investigation and obtained sufficient evidence, the risk of collusion and destruction of evidence has been greatly reduced. Therefore, there is no need to continue detaining them. Thus, the court ruled to release them all on bail by implementing electronic monitoring.
Fuda Law Firm
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Frequently Asked Questions
Does providing an account necessarily constitute money laundering?
Not necessarily. It still needs to be determined whether the account was knowingly or foreseeably used for criminal activity, the intended use of funds, and the specific evidence in the case.
What should you be aware of when being questioned in a money laundering case?
You should first organize your accounts, communications, transaction records, and sources of funds to avoid making inaccurate statements without a clear understanding of the case. It is recommended to consult a lawyer first.
What should you do if your company or its executives are involved in a transnational money laundering investigation?
Accounting, contract, cash flow, and internal communication records should be preserved immediately, and a lawyer should be consulted to clarify the authenticity of the transaction and the criminal risks.