Taiwanese prosecutors have indicted 14 individuals in the country’s largest cryptocurrency money laundering case, involving over 1,500 victims and more than $72 million in illicit funds. The Shilin District Prosecutor’s office filed charges related to fraud, money laundering, and organized crime, seeking the confiscation of approximately $39.8 million obtained from victims. The indictment detailed the group’s operations, including opening 40 stores across Taiwan that falsely claimed authorization from the Financial Supervisory Commission. They collected millions in franchise fees and cash from victims, ultimately defrauding 1,539 individuals. The ringleader, Shi Qiren, faces a potentially lengthy prison sentence as he has not pleaded guilty. This case highlights the authorities' ongoing investigation into fraudulent activities linked to cryptocurrency as they continue addressing vulnerabilities in this sector.

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