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International Business Times
International Business Times
Business

US Indicts Cambodian Tycoon Over $15bn Crypto Scam Empire

Scam centers across Cambodia, Myanmar and the region use fake job ads to attract foreign nationals to purpose-built compounds, where they are forced to carry out online fraud under threat of torture (Credit: AFP)

US authorities on Tuesday unsealed an indictment against Chen Zhi, a UK-Cambodian businessman accused of running forced labor camps in Cambodia where trafficked workers carried out cryptocurrency fraud schemes that netted billions of dollars.

The 37-year-old, known as Vincent, founded Prince Holding Group, a multinational conglomerate that authorities say served as a front for "one of Asia's largest transnational criminal organizations," according to the US Department of Justice.

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