"Chinese-born tycoon Chen Zhi, who was indicted by the US on fraud and money-laundering charges for running a multibillion-dollar online scam network from Cambodia, has been arrested there and extradited to China, Phnom Penh said. Chen allegedly directed operations of forced labour compounds across Cambodia, where trafficked workers were held in prison-like facilities surrounded by high walls and barbed wire, according to US prosecutors."
"Since the US indictment and sanctions by Washington and London in October, authorities in Europe, the US and Asia have targeted Chen's firm, Prince Holding Group, with a frenzy of asset confiscations. Chen founded the Prince Group, a multinational conglomerate that authorities allege served as a front for one of Asia's largest transnational criminal organizations, according to the US justice department."
"Cambodian authorities have arrested three Chinese nationals namely Chen Zhi, Xu Ji Liang, and Shao Ji Hui and extradited [them] to the People's Republic of China, Cambodia's interior ministry said in a statement on Wednesday. The operation was carried out on Tuesday within the scope of cooperation in combating transnational crime and according to a request from Chinese authorities following several months of joint investigative cooperation, it said."
Chen Zhi was arrested in Cambodia and extradited to China after months of joint investigative cooperation and a request from Chinese authorities. US prosecutors allege Chen directed forced-labour compounds in Cambodia where trafficked workers were detained in prison-like facilities to carry out cryptocurrency fraud schemes that netted billions. International sanctions by Washington and London and an October US indictment triggered asset confiscations across Europe, the US and Asia targeting Prince Holding Group. Cambodian authorities revoked Chen's Cambodian nationality by Royal Decree. US charges include wire fraud and money-laundering conspiracy involving approximately 127,271 bitcoins seized by Washington, worth more than $11 billion.
Read at www.theguardian.com
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