By Agencies and published by CNA
Phnom Penh – Chinese-born tycoon Chen Zhi, accused of running internet scam centres that use trafficked workers in Cambodia, has been arrested in Cambodia and extradited to China, Phnom Penh said on Wednesday (Jan. 7).
Cambodian authorities “have arrested three Chinese nationals namely Chen Zhi, Xu Ji Liang, and Shao Ji Hui and extradited (them) to the People’s Republic of China”, Cambodia’s interior ministry said in a statement.
The operation was carried out on Tuesday “within the scope of cooperation in combating transnational crime” and according to a request from Chinese authorities, it added.
The US government in October last year accused the founder of Prince Holding Group, one of Cambodia’s largest conglomerates, of masterminding a massive cryptocurrency scam which involved forced labour camps.
Chen was charged in absentia with wire fraud conspiracy and money laundering, after he and unnamed co-conspirators allegedly exploited forced labour to dupe would-be investors, using the proceeds to purchase yachts, jets and a Picasso painting.
More than US$14 billion in bitcoin was seized, with FBI director Kash Pate then calling it “one of the largest financial fraud takedowns in history”.
Chen’s businesses were also sanctioned by US and UK authorities as part of a joint operation against a “transnational criminal organisation”.
Who is Chen Zhi and Prince Group?
The 37-year-old is the founding chairman of Prince Holding Group, which has interests in various sectors such as real estate, financial services and consumer businesses.
Its key business units are Prince Real Estate Group, Prince Huan Yu Real Estate Group and Prince Bank.
The group boasts over US$2 billion worth of projects in Cambodia, including a large shopping mall, Prince Plaza, in the capital Phnom Penh.
According to media reports, Chen was born in China. He holds both Cambodian and British citizenship.
On the company’s website, Chen is described as a “respected entrepreneur and renowned philanthropist within the Cambodian business community”. It stated that he takes part in various charitable activities through the group’s charitable arm, Prince Foundation.
Chen has served as an adviser to Prime Minister Hun Manet and his father, former leader Hun Sen, and holds the government-bestowed honorific “Neak Oknha”, meaning “prominent tycoon”.
CAPTION:
Chen Zhi, the founding chairman of Cambodian conglomerate Prince Holding Group. Above composite images – Amarin TV, Front Page Image: Prince Holding Group website and published by CNA
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