"The proposed AB Digital Technology Resort has raised significant concerns among Timor-Leste's opposition, particularly regarding the legitimacy of foreign investors acquiring prime beachfront real estate in the capital."
"An investigation by the Guardian and OCCRP uncovered alleged connections between the resort's investors and the Prince Group, a conglomerate accused of running extensive scams and fraud operations."
"US authorities have indicted Prince Group's founder on serious charges, describing the organization as one of the largest transnational criminal entities in Asia, involved in forced labor and cyber fraud."
Timor-Leste's opposition questions the acquisition of prime beachfront real estate by foreign investors for a cryptocurrency resort. Concerns were raised in parliament regarding the issuance of a diplomatic passport to a Chinese businessman involved in the project. An investigation revealed links between individuals associated with the resort and the Prince Group, a Cambodian conglomerate facing serious allegations of fraud. The Prince Group denies all claims, asserting that the allegations are unfounded and part of a larger scheme to seize assets.
Read at www.theguardian.com
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