All articles tagged with #asset seizures
Prosecutors across Taiwan, Hong Kong, Singapore, the UK, and the US have seized assets worth hundreds of millions of dollars from Chen Zhi, a Cambodian businessman accused of leading a global cyber-scam syndicate that defrauded victims worldwide, including 250 in the US, with operations spanning multiple countries and involving massive crypto assets and luxury possessions.
Prosecutors across Asia and the U.S. have seized assets worth hundreds of millions of dollars from Chen Zhi, a Cambodian businessman accused of leading a global cyber-scam syndicate linked to the Prince Holding Group, with investigations revealing extensive illicit financial activities and assets across multiple countries.
Former President Donald J. Trump faces financial pressure as he seeks to find enough cash to stave off asset seizures while appealing judgments against him totaling at least $537 million, including a $454 million civil fraud trial and an $83.3 million defamation case. Despite Trump's claims of having substantial cash reserves, his lawyers offered a bond of only $100 million while appealing the $454 million judgment, raising questions about his actual liquidity. If he fails to post the required cash or bond, New York's attorney general has warned she will move quickly to seize some of his buildings.
Russian President Vladimir Putin has turned the Western boycott of Russia into a financial windfall for the country's loyal elite and the state itself. By forcing companies to sell at fire-sale prices, limiting sales to Moscow-approved buyers, and sometimes seizing firms outright, Putin has overseen one of the largest transfers of wealth within Russia since the fall of the Soviet Union. Western companies that have announced departures have declared over $103 billion in losses, with Putin squeezing as much of that wealth as possible through dictating the terms of their departure and imposing increasing taxes. The Russian economy has remained relatively resilient, allowing Putin to maintain a sense of normalcy despite the ongoing war. However, the wave of departing companies has stung, sending a global signal that Russia is a business pariah and reinforcing its image as a dangerous place to do business.