Who Is Chen Zhi and the So-Called Crime Network, Targeted by the United States and United Kingdom of Massive Scam Operations?
The United Kingdom and United States have imposed sanctions on a global syndicate operating from south-east Asia, accused of running extensive online scam operations that are suspected of exploiting trafficked workers to swindle people around the world.
This criminal enterprise has expanded in recent years, especially in parts of Cambodia and Myanmar where hundreds of thousands have been deceived by fraudulent employment offers and then coerced to carry out online fraud, including romance scams, often under the threat of physical harm.
The United States Treasury stated it had taken what it called the largest action ever in south-east Asia, targeting 146 people associated with the so-called organization, which the United Kingdom also sanctioned.
Those sanctioned comprise the head of the Prince group, Chen Zhi, as well as more than a dozen persons linked with his business operations throughout south-east Asia and the Pacific.
What is the Alleged Syndicate and the Identity of Chen Zhi?
According to authoritative sources, Chen Zhi, 38, also known as “Vincent”, is the founder and chairman of the so-called conglomerate (the group), a multinational business conglomerate based in Cambodia which, according to its website, is centered around “real estate development, financial services and retail offerings”.
On October 14, American officials stated that Chen, who is still evading capture, had been indicted for conspiracy to commit fraud and conspiracy to launder money for overseeing the group's activities of fraud centers using coerced labor throughout the country.
His swift rise to riches has gained him significant political influence, including alleged consulting positions to the nation's leader. The individual, a native of China from 1987, is thought to have acquired nationality in Cyprus and Vanuatu, and is also a citizen of Cambodia.
Reasons Behind They Been Penalized?
The Department of Justice claimed people had been forcibly detained in the scam compounds connected to the group and forced to participate in a range of fraudulent schemes that stole billions of dollars from victims in the United States and worldwide.
As part of the investigation into the leader, the United States and UK have seized $15bn (£11.3bn) in bitcoin and frozen properties in London.
The seized assets are thought to include a £12 million mansion on a prestigious street, one of the costliest locations in London, a £95 million office block on Fenchurch Street in the center of the London's banking area, and several flats in central London.
“Today the Federal Bureau of Investigation and partners executed one of the biggest crackdowns on fraud in recorded time,” said the bureau's head the official in a announcement about the measures.
Other Parties Is Involved?
According to the senior justice official, Chen was the alleged “chief architect behind a vast digital scam network operating under the Prince Group umbrella”. He was placed on a US sanctions list this October together with more than a dozen additional persons believed to be involved in his business empire.
More than 100 corporate bodies – registered in Cambodia, Singapore, Hong Kong and Taiwan among others – were also added to a sanctions list because of suspected connections to the leader.
Impact of the Measures Do?
Cambodia’s interior ministry spokesperson told news agencies that the authorities would work together with foreign nations in the case against Chen.
“We are not protecting persons that break regulations,” he said. “However, this does not imply that we are accusing Prince Group or Chen Zhi of committing crimes similar to the claims made by the US or the UK.”
In spite of the historic set of penalties, analysts say the scam industry is still enormous, with the UN estimating in recent years that about a hundred thousand individuals were being forced to carry out internet fraud in Cambodia, as well as at least one hundred twenty thousand in the neighboring country and tens of thousands in Thailand, Laos and the Philippines.
Given the widespread nature of the enterprise in multiple south-east Asian countries, some worry any apprehensions will create a gap for other transnational groups to swoop in.
