U.S. seizes $15 billion in Bitcoin linked to massive forced-labor crypto scam
The U.S. government has seized about $15 billion worth of Bitcoin connected to what prosecutors call one of the largest cryptocurrency fraud and human trafficking operations ever uncovered.
Federal prosecutors in Brooklyn have charged Chen Zhi, also known as “Vincent,” the founder and chairman of Cambodia’s Prince Holding Group, with wire fraud conspiracy and money laundering conspiracy. If convicted, Chen faces up to 40 years in prison.
A criminal empire disguised as business
According to the indictment, Chen ran a network of forced-labor scam compounds across Cambodia where people were held against their will and made to carry out pig butchering cryptocurrency scams. The schemes stole billions of dollars from victims…
