The post US seizes $14B in Bitcoin tied to Cambodia’s Prince Group appeared on BitcoinEthereumNews.com.

Prosecutors in the United States have charged Cambodia’s Prince Group with wire fraud and money laundering conspiracy, after seizing over $14 billion worth of Bitcoin as part of one of the biggest financial takedowns in history. Summary U.S. prosecutors have charged Cambodia’s Prince Group and its chairman, Chen Zhi, with wire fraud and money laundering. Prince Group was behind a massive crypto scam empire that used trafficked workers. Chen faces up to 40 years in prison if convicted. Cambodia’s Prince Group is a conglomerate led by Chinese-Cambodian tycoon Chen Zhi, which presented itself as a legitimate multinational business spanning property development, finance, and consumer services. However, according to the US Department of Justice, it was all a facade to mask an extensive criminal empire that exploited thousands of victims through crypto scams, human trafficking, and money laundering. The DOJ has indicted Chen, who serves as the chairman of the group and is a dual citizen of Cambodia and the United Kingdom, accusing him of orchestrating a massive transnational network set up to defraud investors and launder illicit funds through a web of shell companies and scam operations spread across Southeast Asia. According to court filings, Chen was the man in charge of at least ten scam compounds across Cambodia, where trafficked workers were allegedly forced to run pig butchering scams targeting victims around the world. Cambodia is infamous for hosting such scam compounds and is among the hotspots for criminal operations in Southeast Asia, where countries like Myanmar, Laos, the Philippines, Malaysia, and Vietnam have also seen a surge in similar networks. “Trafficked workers were confined in prison-like compounds and forced to carry out online scams on an industrial scale, preying on thousands worldwide, including many here in the United States,” Assistant Attorney General for National Security John A. Eisenberg…

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Filed under: News - @ October 15, 2025 8:25 am