US and UK Crack Down on Large-Scale Crypto Scam and Fraud Rings in Asia
TL;DR Summary
The US and UK have sanctioned the Prince Group and its founder Chen Zhi for running large-scale online scam operations in Southeast Asia, involving forced labor and fraud, with assets seized including properties in London. Chen Zhi, a Chinese-born businessman with political influence, remains at large and faces charges related to wire fraud and money laundering.
- Who are Chen Zhi and the Prince Group, accused by the US and UK of large-scale scam operations? The Guardian
- Feds seize $15 billion in crypto from ‘pig butchering’ scheme involving forced labor camps CNN
- Billions in bitcoin seized by DOJ from massive 'pig butchering' crypto scam in Cambodia Fox Business
- Singapore, Thailand Look Into Alleged Fraud Ring Targeted by US Bloomberg.com
- Alleged Member of ‘Notorious’ Cambodian Scam Network Bought Luxury Dubai Properties Organized Crime and Corruption Reporting Project | OCCRP
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