Prince Group Chairman Indicted for Operating Forced-Labor Cryptocurrency Fraud Compounds in Cambodia
By
eevilspock
The kind of bagel that ruins lesser bagels for you.
Summary
Cambodian national Chen Zhi, founder and chairman of Prince Holding Group, has been indicted in federal court in Brooklyn for operating forced-labor scam compounds in Cambodia. The indictment charges him with wire fraud conspiracy and money laundering conspiracy for directing operations where individuals held against their will were forced to engage in cryptocurrency investment fraud schemes.
Key quotes
· 3 pulledAn indictment was unsealed today in federal court in Brooklyn, New York, charging Cambodian national Chen Zhi, also known as Vincent, 37, the founder and chairman of Prince Holding Group (Prince Group)
with wire fraud conspiracy and money laundering conspiracy for directing Prince Group's operation of forced-labor scam compounds across Cambodia
Individuals held against their will in the compounds engaged in cryptocurrency investment fraud schemes
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