SINGAPORE: Supercars valued at about US$35 million in total that belonged to members of the scandal-hit Prince Group will be auctioned en masse in Taipei in February, putting some limited-edition vehicles back on the market.
The 34 luxury cars worth more than NT$850 million (S$34.5 million) were seized by the Taipei District Prosecutors Office in 2025. Most of them were registered to Prince Group chief Chen Zhi and his key associate Li Thet.
Of the seized cars, 32 will be auctioned at the Taiwan Police Academy in Taipei on Feb 25, local media reported.
They include a Bugatti Chiron valued at around NT$150 million, a rare McLaren Senna LM – one of just 20 manufactured – and limited-edition Ferrari coupes such as the Monza SP2 and the LaFerrari.
It is the first time the Police Academy’s assembly area will be used to display these cars. A big enough area was required due to the unprecedented number of valuable supercars involved in this auction.
The police are also expected to arrange for anti-fraud awareness programmes during the event.
The Cambodia-based Prince Group was first indicted by the US Department of Justice in October 2025 for orchestrating transnational investment fraud schemes, also known as “pig butchering” scams, and money laundering.
Taiwanese authorities conducted raids on Prince Group’s registered addresses in Taiwan, including its rented offices in the Taipei 101 building that used online gaming as a cover for their money-laundering practices.
The Taipei district prosecutor in November 2025 detained 25 people and seized more than NT$4.5 billion in illegal assets, including a fleet of supercars in the underground parking of Taipei’s exclusive Peace Palace residential complex.
Singapore police in October had also seized more than $150 million in assets tied to the Prince Group, including a yacht, cars, liquor and bank accounts.
Chen was arrested in Phnom Penh on Jan 6 and extradited to China. - The Straits Times/ANN
