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Vincent Chen Zhi, the founder and chairman of the Cambodian Prince Group, has been deported to China following his arrest in Cambodia amid serious allegations of large-scale fraud and money laundering, among other transnational crimes that involved more than US$10 billion.
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The Chinese-born tycoon is believed to be the mastermind behind an extensive cyber-fraud empire.
The United States Department of Justice has charged Chen with orchestrating a network of scam compounds in Cambodia that reportedly defrauded victims worldwide of billions of dollars in cryptocurrency. Authorities have confiscated approximately US$14 billion (around HK$109.2 billion) worth of bitcoin linked to Chen, marking the largest cryptocurrency seizure in history.
The 39-year-old was born in Fujian, China and began his career at a small online gaming company before moving to Cambodia after 2010, where he quickly entered the burgeoning real estate sector. He renounced his Chinese citizenship and became a Cambodian citizen in 2014.
Some reports suggested that the technology park run by Prince Group in Sihanoukville was actually a fraud-ridden facility surrounded by high walls and barbed wire, where thousands were lured under false work scam and forced to participate in online scams.
Source URL : Cambodian tycoon Vincent Chen deported to China amid $10bn fraud and money laundering allegations | The Standard https://www.thestandard.com.hk/china-news/article/321019/
