NEW YORK (AP) — 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 the proceeds to purchase yachts, jets and a Picasso painting. In an indictment unsealed Tuesday, Brooklyn federal …
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U.S. Sanctions Cambodian Conglomerate, Citing Role in ‘Pig-Butchering’ Scams – The Wall Street Journal
U.S. Sanctions Cambodian Conglomerate, Citing Role in ‘Pig-Butchering’ Scams The Wall Street Journal Billions in bitcoin seized by DOJ from massive ‘pig butchering’ crypto scam in Cambodia Fox Business Feds seize $15 billion in crypto from ‘pig butchering’ scheme involving forced labor camps CNN Bitcoin worth $14bn seized in US-UK crackdown on alleged scammers BBC US Sanctions Online Scammers Who Stole Billions From US …
Read More »Office of Public Affairs | Chairman of Prince Group Indicted for Operating Cambodian Forced Labor Scam Compounds Engaged in Cryptocurrency Fraud Schemes
An indictment was unsealed today in federal court in Brooklyn, New York, charging UK and Cambodian national Chen Zhi, also known as Vincent, 37, the founder and chairman of Prince Holding Group (Prince Group), a multinational business conglomerate based in Cambodia, with wire fraud conspiracy and money laundering conspiracy for directing Prince Group’s operation of forced-labor scam compounds across Cambodia. …
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