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Assets confiscated from the international online financial fraud organization “Prince Group” are being offered for public sale in Taiwan.

As reported by foreign media, including Taiwan’s Central News Agency on the 3rd, the Taipei Office of the Ministry of Justice’s Administrative Enforcement Agency conducted an auction the day before at the Taipei Police Specialized School, featuring 33 high-end vehicles and luxury items like designer handbags and sneakers seized from the Prince Group.

The auction gained notice for showcasing premium vehicles known as the “Four Kings of Supercars.” A Porsche 918 Spyder was sold for 560 million New Taiwan dollars (around 2.59 billion Korean won), whereas a Ferrari LaFerrari reached 1.35 billion New Taiwan dollars (about 6.26 billion Korean won). A Bugatti Chiron Sport had a starting price of 950 million New Taiwan dollars (approximately 4.36 billion Korean won) but remained unsold.

Rivalry also intensified for Rolls-Royce and Lamborghini models, with 24 of the 33 cars being purchased by new owners. A total of 266 bidders were present at the event, and the overall auction revenue reached 4.3662 billion New Taiwan dollars (roughly 20.25 billion Korean won). Local media noted, “Ten vehicles were sold within 30 minutes of the auction beginning, highlighting an almost immediate selling speed.”

The Taipei Branch said, “Crimes involving fraud and money laundering damage financial stability and public confidence,” and noted, “The government is adopting a ‘zero-tolerance approach.’” It also mentioned, “In the course of investigations, confiscated assets are quickly sold to avoid losing value, with the auction revenues directed to the national treasury or allocated for compensating victims in the future.”

Previously, Taiwanese officials dismantled the Prince Group’s money laundering operations on the island via extensive raids that began late last year. Chen Zhi, the group’s founder, was recently returned to mainland China and is currently awaiting trial. Assets believed to be illicit funds are still frozen in several areas, including Taiwan.

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