Chinese Businessman Indicted for Global Crypto Scam Network

2025-10-14 23:19

The Eastern District of New York has indicted Chinese businessman Chen Zhi, accusing him of orchestrating a transnational criminal network through Cambodia's Prince Group. The indictment claims Chen's organization conducted large-scale crypto investment scams in over 30 countries, operating at least 10 scam compounds in Cambodia. These operations allegedly defrauded victims of billions of dollars using "pig-butchering" schemes. The Department of Justice is pursuing the forfeiture of 127,271 Bitcoin and luxury assets, including yachts and private jets.

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