"Chinese authorities on Thursday confirmed that Cambodia had extradited a tycoon accused of running a massive online scam operation. Chinese-born Chen Zhi is chairman of Prince Holding Group, one of Cambodia's largest conglomerates that the US says has served as a front for "one of Asia's largest transnational criminal organizations." The US had indicted and sanctioned him in October on fraud and money-laundering charges over running a multibillion-dollar cyberscam network from Cambodia."
"US prosecutors estimated that Chen's organization scammed 250 Americans out of millions of dollars, including one victim losing $400,000 worth of cryptocurrency. Chen is accused of directing operations of forced labor compounds across Cambodia. According to US prosecutors, trafficked workers were held in prison-like facilities there, surrounded by high walls and barbed wire. Workers were allegedly forced to execute scams targeting victims worldwide, possibly causing billions in losses."
Chen Zhi was extradited from Cambodia to China after international pressure and a US indictment and sanctions alleging a multibillion-dollar cyberscam network. US authorities say Prince Holding Group acted as a front for a large transnational criminal organization and that operations scammed hundreds of victims, including at least 250 Americans. Trafficked workers were reportedly confined in prison-like compounds with high walls and barbed wire and forced to carry out scams. The schemes allegedly included 'pig butchering' cryptocurrency investment frauds. Cambodia's central bank ordered liquidation of Prince Bank on January 8.
Read at www.dw.com
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