US EditionUS, UK Sanction Cambodian Prince Group Over $15B 'Pig-Butchering' Scam
Authorities seized $15 billion in Bitcoin linked to a crypto scam exploiting trafficked workers in forced labor camps, marking the largest forfeiture in US Justice Department history.
- The U.S. Department of Justice seized approximately 127,271 Bitcoin, valued at $15 billion, linked to a 'pig butchering' scam.
- Chen Zhi, also known as 'Vincent,' was indicted for directing forced-labor scam operations that targeted victims globally.
- The U.S. and U.K. imposed sanctions on Zhi and Prince Group for their involvement in these illicit activities, highlighting significant global law enforcement collaboration.
- The Department of Justice stated, 'Today’s action represents one of the most significant strikes ever against the global scourge of human trafficking and cyber-enabled financial fraud.
246 Articles
246 Articles
US $15 Billion Crackdown on Cambodian Scams
By: Toh Han ShihVincent Chen ZhiMore assets are expected to be seized in the wake of the largest forfeiture action in the history of the US Department of Justice, involving a “pig butchering” online scam allegedly operated by a Cambodian conglomerate, Prince Holding Group, and its founding chairman, Vincent Chen Zhi. US prosecutors allege Chen and his co-conspirators bribed officials of various countries, including Chinese spies and police offic…
DOJ Seizes $15 Billion in Bitcoin from Cambodian Scammers Who Used Slave Labor to Trick Victims
The DOJ has seized about $15 billion worth of bitcoin from a massive "pig butchering" fraud operation based in Cambodia. The scammers allegedly ran forced-labor camps in Cambodia where slaves were forced to lure individuals into the scam. The post DOJ Seizes $15 Billion in Bitcoin from Cambodian Scammers Who Used Slave Labor to Trick Victims appeared first on Breitbart.
DOJ seizes $15B bitcoin from pig butchering scam kingpin
The Department of Justice seized $15 billion in bitcoin from Chen "Vincent" Zhi, founder of Prince Holding Group, who allegedly ran cryptocurrency-enabled forced labor operations across Cambodia. According to CNBC, prosecutors discovered facilities housing trafficked workers who operated 1,250 phones controlling 76,000 social media accounts — all designed to execute "pig butchering" scams that exploited vulnerable Americans. — Read the rest The …
Authorities seize $15 billion in Bitcoin after investigation into worldwide investment fraud
Authorities in the US and UK have launched a sweeping cybercrime crackdown targeting Cambodia's Prince Group, a powerful conglomerate accused of running forced-labor scam centers and a vast cryptocurrency fraud network. This week, federal prosecutors charged Chairman Chen Zhi with conspiracy to commit wire fraud and money laundering. Wired notes...Read Entire Article
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