Luxury Goods Including the "Four Supercar Kings" Flood the Auction
"An Important Milestone Demonstrating Taiwan's Determination to Eradicate Fraud"
The confiscated assets of the international online financial fraud (voice phishing) organization known as the "Prince Group" have been put up for public auction in Taiwan.
On the 2nd, a luxury car auction related to the Cambodian scam organization Prince Group was held in Taipei, Taiwan, where visitors are photographing Lamborghini Urus and Ferrari 488 Pista. Photo by Reuters Yonhap News
On March 2, local media outlets, including Taiwan's Central News Agency, reported that the Taipei Branch of the Administrative Enforcement Agency under Taiwan's Ministry of Justice held an auction at the Taipei Police College. The auction featured luxury goods confiscated from the Prince Group, including 33 high-end supercars, as well as designer bags and luxury sneakers.
The auction included ultra-high-end vehicles known as the "Four Supercar Kings." The "Frog King" Porsche 918 Spyder was sold for 56 million New Taiwan dollars (approximately 2.59 billion won), while the "Horse King" Ferrari LaFerrari was auctioned off for 135 million New Taiwan dollars (about 6.26 billion won). The "Mountain Boar King" Bugatti Chiron Sport started at a bid of 95 million New Taiwan dollars (about 4.36 billion won) but was not sold. Other luxury cars, including Rolls-Royce and Lamborghini, were also up for auction. Of the 33 vehicles, 9 did not find a buyer, while 24 were sold to new owners. The total winning bid amount reached 436.62 million New Taiwan dollars (about 20.25 billion won). Local media provided detailed reports in table format, listing each vehicle's starting price, auction result, and whether it was sold or not by auction number.
A total of 266 bidders participated at the scene. Within just 30 minutes of the auction's start, 10 vehicles were sold, reflecting a pace close to a "near-instant sellout."
On the 2nd, a luxury car auction associated with the Cambodian fraud organization Prince Group took place in Taipei, Taiwan, showcasing a Bugatti Chiron Sport. Photo by Reuters Yonhap News
The Taipei Branch emphasized, "Crimes such as fraud and money laundering are undermining financial order and social trust," adding that "the government is responding with a zero-tolerance policy." They further stated that the authorities intend to promptly sell confiscated assets during the investigation stage to prevent a decline in value, and that the auction proceeds will be allocated to the national treasury or used for future restitution to victims.
Taiwanese Minister of Justice Cheng Min-chien commented, "This auction is not simply an auction, but an important milestone demonstrating the government's determination to eradicate fraud."
Earlier, the Taipei District Prosecutors Office had made significant progress in its investigation into the Prince Group's international money laundering and telecommunications fraud cases. Since the end of last year, authorities carried out eight large-scale raids, successfully dismantled the Prince Group's money laundering network in Taiwan, and seized 34 top-tier supercars, 33 of which were put up for auction. Prince Group founder Chen Zhi was recently extradited to China and is awaiting trial. Assets suspected to be criminal proceeds have been frozen in multiple regions, including Taiwan. In addition, the U.S. District Attorney's Office for the Southern District of New York indicted Chairman Chen Zhi and confiscated more than 127,000 Bitcoin (worth $15 billion, or about 21 trillion won) held in his possession.
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