"The United States and United Kingdom have announced sweeping sanctions against a Southeast Asia-based multinational crime network for running a chain of scam centres in Cambodia, Myanmar and across the region, using trafficked workers to defraud people around the world into bogus crypto investments. The US Treasury Department on Tuesday said it had taken what it described as the largest action ever in Southeast Asia, targeting 146 people within the Cambodia-based Prince Group network, which it declared a transnational criminal organisation."
"The UK also slapped sanctions on six entities and individuals associated with the Prince Group, freezing 19 London properties worth more than 100 million pounds ($134m) linked to the network. Today's action represents one of the most significant strikes ever against the global scourge of human trafficking and cyber-enabled financial fraud, said US Attorney General Pam Bondi. Federal prosecutors in the US also unsealed an indictment charging Chinese-Cambodian tycoon Chen Zhi, the Prince Group's 37-year-old chair,"
US and UK authorities imposed sweeping sanctions on the Cambodia-based Prince Group, declaring it a transnational criminal organisation. The network operated scam centres across Cambodia, Myanmar and the region that used hundreds of thousands of trafficked workers to carry out bogus cryptocurrency investment frauds. The US Treasury targeted 146 people linked to the group and the UK froze 19 London properties worth over 100 million pounds. Federal prosecutors unsealed charges against Chen Zhi, the group's chair, and the Justice Department filed a record forfeiture action seizing more than $14 billion in Bitcoin.
Read at www.aljazeera.com
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