Alleged Crypto Scam Kingpin Arrested in Cambodia After $12 Billion Bitcoin Seizure
The alleged mastermind of a scam ring that stole billions of dollars’ worth of assets from individuals in the U.S. and across the globe was arrested Tuesday in Cambodia and extradited to China, according to a Wall Street Journal report.
Chen Zhi, a Cambodian national and the founder and chairman of Prince Holding Group, was charged in October with wire fraud conspiracy and money laundering conspiracy for his role in the operation of scam compounds that stole billions from victims.
As part of the scheme, Zhi’s conglomerate held individuals against their will at compounds and forced them to run crypto fraud schemes, sometimes referred to as “pig butchering” scams, in which they built relationships with unsuspecting…
