Who Are the Alleged Leader and the So-Called Crime Network, Accused by the US and UK of Massive Scam Operations?
The United Kingdom and US have enforced measures on a global syndicate operating from south-east Asia, allegedly orchestrating large-scale online scam operations that are suspected of using trafficked workers to swindle individuals around the world.
This industry has flourished in the past few years, particularly in parts of Cambodia and Myanmar where hundreds of thousands have been duped by fraudulent employment offers and then coerced to commit internet scams, including romance scams, often under the threat of physical harm.
The US treasury department stated it had taken what it described as the most significant measure to date in Southeast Asia, targeting over a hundred individuals connected to the so-called organization, which the United Kingdom also penalized.
Those sanctioned include the head of the Prince group, the accused figure, as well as numerous individuals linked with his commercial activities across Southeast Asia and Pacific regions.
Understanding the Alleged Syndicate and Who is Chen Zhi?
According to authoritative sources, the individual in question, 38, also known as “the alias”, is the leader and establisher of the so-called conglomerate (Prince Group), a global corporate entity based in the Southeast Asian nation which, as per its online presence, is focused on “real estate development, financial services and consumer services”.
On 14 October, American officials stated that the accused, who remains at large, had been charged with conspiracy to commit fraud and money laundering conspiracy for directing Prince Group’s operation of fraud centers using coerced labor across the country.
His swift rise to riches has won him significant political influence, including reported advisory roles to Cambodia’s prime minister. The individual, a native of China from 1987, is thought to have bought citizenship in Cyprus and Vanuatu, and is also a Cambodian national.
Reasons Behind They Been Penalized?
The Department of Justice alleged people had been forcibly detained in the scam compounds connected to the syndicate and forced to participate in a variety of deceptive practices that defrauded massive sums from targets in the US and globally.
As part of the investigation into the leader, the US and UK have seized $15 billion (ÂŁ11.3 billion) in cryptocurrency and frozen London assets.
The frozen properties are thought to include a £12 million mansion on Avenue Road, one of the costliest locations in London, a £95 million commercial building on Fenchurch Street in the center of the City of London’s financial district, and several flats in central London.
“Today the Federal Bureau of Investigation and partners carried out one of the largest financial fraud takedowns in recorded time,” said FBI director the official in a statement about the measures.
Other Parties Are Implicated?
According to the senior justice official, Chen was the alleged “mastermind behind a sprawling cyber-fraud empire functioning under the group's banner”. He was placed on a American blacklist this October alongside more than a dozen additional persons believed to be involved in his commercial network.
More than 100 corporate bodies – based in Cambodia, Singapore, Hong Kong and Taiwan and more – were also added to a sanctions list because of alleged links to the leader.
What will the Measures Do?
Cambodia’s interior ministry spokesperson told media outlets that the government would work together with other countries in the case against Chen.
“We do not protecting persons that break regulations,” the official said. “However, this does not imply that we are accusing the group or its leader of committing crimes similar to the claims made by the United States or UK.”
In spite of the unprecedented tranche of sanctions, experts say the fraud sector is still enormous, with the United Nations estimating in recent years that about 100,000 people were being forced to execute internet fraud in Cambodia, as well as at least 120,000 in the neighboring country and many thousands in Thailand, Laos and the Philippines.
Considering the prevalence of the enterprise in multiple Southeast Asian nations, certain worry any arrests will leave a vacuum for other transnational groups to swoop in.
