US EditionUS Indicts ‘Mastermind’ of Cambodian Cyberscam Network, Seizes $15B in Bitcoin
Chen Zhi faces charges for orchestrating a $14 billion bitcoin scam using forced labor camps in Cambodia, with proceeds funding luxury assets, U.S. officials said.
- The U.S. government has charged Chen Zhi, chairman of Prince Holding Group, with wire fraud and money laundering following a cryptocurrency scam that exploited forced labor, leading to a seizure of over $14 billion in bitcoin.
- Chen Zhi is accused of using forced labor to conduct scams, resulting in billions lost by investors, with links to luxury purchases.
- The Treasury Department declared Prince Holding Group a transnational criminal organization amidst ongoing investigations since 2020.
- U.S. and British authorities imposed sanctions on Chen’s company, further highlighting its role as a significant player in transnational crime, according to the Treasury Department.
21 Articles
21 Articles
U.S. charges Cambodian tycoon in massive alleged cryptocurrency scam
In an indictment unsealed in federal court, U.S. prosecutors charge the founder of a Cambodian conglomerate in a massive cryptocurrency scam, bilking would-be investors out of billions of dollars.(Image credit: Rick Bowmer)
US charges Cambodian executive in massive crypto scam and seizes more than US$14 billion in bitcoin
NEW YORK: The United States government has seized more than US$14 billion in bitcoin and charged the founder of a Cambodian conglomerate in a massive cryptocurrency scam, accusing him and unnamed co-conspirators of exploiting forced labour to dupe would-be investors and using the proceeds to purchase yachts, jets an
US indicts ‘mastermind’ of Cambodian cyberscam network, seizes $15B in Bitcoin
The Department of Justice (DOJ) announced Tuesday it has indicted the alleged orchestrator of a Cambodia-based cryptocurrency fraud scheme. The indictment, filed Oct. 8 and unsealed Tuesday in the Eastern District of New York, alleges that Chen Zhi, who also goes by Vincent, operated forced-labor compounds in Cambodia that conducted crypto investment fraud schemes —…
US charges Cambodian exec in massive crypto scam, seizes more than $14B in bitcoin
The U.S. government has seized more than $14 billion in bitcoin and charged the founder of a Cambodian conglomerate in a massive cryptocurrency scam, accusing him and unnamed co-conspirators of exploiting forced labor to dupe would-be investors and using proceeds to purchase yachts, jets and a Picasso painting.
U.S. charges Cambodian tycoon in massive alleged cryptocurrency scam - TPR: The Public's Radio
In an indictment unsealed in federal court, U.S. prosecutors charge the founder of a Cambodian conglomerate in a massive cryptocurrency scam, bilking would-be investors out of billions of dollars. The post U.S. charges Cambodian tycoon in massive alleged cryptocurrency scam appeared first on TPR: The Public's Radio.
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