Taiwan charges suspects in record $72M crypto laundering scheme

Taiwanese prosecutors reportedly indicted 14 people accused of orchestrating the country’s biggest money laundering case involving cryptocurrency.

Taiwanese prosecutors reportedly indicted 14 people in what they say is the country’s biggest-ever cryptocurrency money laundering case, involving more than 1,500 victims and over $70 million in illicit funds.

The Shilin District Prosecutor’s office indicted the 14 on charges related to fraud, money laundering and organized crime, requesting the confiscation of 1.275 billion New Taiwan dollars ($39.8 million), which was allegedly obtained from victims through fraud, according to a Friday report from local media outlet UDN.

Prosecutors also requested confiscation of another 640,000 USDt (USDT), undisclosed Bitcoin (BTC) and Tron (TRX) holdings, over $1.8 million in cash and two luxury cars. They reportedly seized bank deposits totaling $3.13 million, with the rest of the proceeds set to be recovered later.

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