Prince Group Denies USD15bn Scam Allegations After Global Asset Seizures

Cambodia’s Prince Group said it categorically rejects Prince Group scam allegations that founder Chen Zhi built an internet scam empire, after authorities in the US and several Asian and European markets moved to seize assets.

The US Justice Department last month unsealed an indictment alleging one of Asia’s largest transnational criminal organisations and forced‑labour compounds in Cambodia used for online fraud.

US investigators said they had seized about USD15bn in bitcoin, calling it the department’s largest forfeiture action, while Britain and markets including Taiwan, Singapore and Hong Kong have frozen or seized hundreds of millions more.