Who Is the Alleged Leader and the So-Called Crime Network, Targeted by the United States and United Kingdom of Massive Scam Operations?
The UK and United States have enforced measures on a global syndicate based in south-east Asia, allegedly running large-scale online scam operations that are suspected of exploiting victims of human trafficking to defraud people globally.
This criminal enterprise has expanded in recent years, especially in parts of Cambodia and Myanmar where countless individuals have been deceived by false job adverts and then forced to carry out internet scams, such as romance scams, sometimes under the menace of torture.
The United States Treasury stated it had taken what it called the largest action ever in south-east Asia, focusing on over a hundred individuals associated with the so-called organization, which the UK also sanctioned.
Those sanctioned comprise the leader of the alleged network, the accused figure, as well as numerous individuals linked with his business operations across south-east Asia and the Pacific.
What is the Prince Group and Who is Chen Zhi?
Based on official statements, the individual in question, thirty-eight, also known as “the alias”, is the founder and chairman of the so-called conglomerate (Prince Group), a multinational business conglomerate headquartered in Cambodia which, according to its website, is focused on “real estate development, financial services and consumer services”.
On 14 October, American officials stated that Chen, who remains at large, had been charged with conspiracy to commit fraud and conspiracy to launder money for overseeing Prince Group’s operation of fraud centers using coerced labor across Cambodia.
Chen’s rapid ascent to wealth has gained him substantial clout, comprising alleged consulting positions to the nation's leader. The individual, a native of China from 1987, is believed to have bought citizenship in Vanuatu and Cyprus, and is also a Cambodian national.
Why have the Group Been Penalized?
The US justice department claimed individuals had been forcibly detained in the scam compounds connected to the group and forced to engage in a variety of deceptive practices that stole massive sums from targets in the United States and globally.
As part of the probe into Chen, the US and UK have seized $15bn (£11.3 billion) in bitcoin and blocked properties in London.
The seized assets are believed to comprise a £12m residence on a prestigious street, one of the costliest locations in London, a £95 million office block on a key financial avenue in the heart of the London's banking area, and multiple apartments in central London.
“Today the Federal Bureau of Investigation and partners carried out one of the biggest crackdowns on fraud in history,” said FBI director the official in a announcement about the measures.
Other Parties Is Involved?
According to the US assistant attorney general, the accused was the alleged “mastermind behind a sprawling cyber-fraud empire operating under the group's banner”. He was placed on a American blacklist this October alongside more than a dozen additional persons believed to be participating in his commercial network.
Over a hundred corporate bodies – based in multiple Asian jurisdictions among others – were also added to a sanctions list because of suspected connections to Chen.
What will the Sanctions Do?
Cambodia’s interior ministry spokesperson told media outlets that the authorities would work together with other countries in the case against Chen.
“We do not shielding individuals that violate the law,” he said. “But it does not mean that we blame the group or its leader of committing crimes like the allegations issued by the US or the UK.”
Despite the historic set of penalties, experts say the scam industry is still massive, with the United Nations calculating in recent years that about 100,000 people were being compelled to carry out online scams in Cambodia, as well as at least one hundred twenty thousand in Myanmar and many thousands in other Southeast Asian states.
Considering the widespread nature of the enterprise in several Southeast Asian nations, some fear any arrests will create a gap for additional global syndicates to take over.
