Prince Group is suspected of transnational money laundering; Taipei District Prosecutors Office indicts 62 people and 13 companies seeking severe sentences. Lawyer Li Yusheng explains the elements and criminal liabilities of fraud groups involved in money laundering and other crimes.

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.

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