Hundreds of millions of dollars in assets belonging to a mysterious Cambodian businessman, Chen Zhi, have been seized by prosecutors in Taiwan, Hong Kong, and Singapore.
This action follows accusations from the United States that Mr Zhi, founder of Cambodiaâs Prince Holding Group, reportedly leads a vast global cyber-scam syndicate.
The investigations began after American prosecutors charged Mr Zhi with wire fraud conspiracy and money laundering conspiracy in an indictment unveiled on 14 October.
This coincided with a significant seizure of crypto assets by US authorities, reportedly including some $14bn in Bitcoin.
Both the US and UK governments have also imposed joint sanctions against Mr Zhi, his associates, and his company. The alleged criminal network, operating under the Prince Holding Group, is accused of defrauding 250 victims in the US.
This case highlights growing international concern over scam networks based in countries such as Cambodia, Laos, Myanmar, and the Philippines.
The United Nations estimates these operations generate tens of billions of dollars annually from victims worldwide through various schemes, from fake investments to romance scams.
The Prince Holding Group did not immediately respond to a request for comment.
A growing list of asset seizures depicts a man with hundreds of millions of dollars’ worth of assets spread across jurisdictions.
Singapore launched an investigation on 30 October after announcing the seizure of financial assets belonging to Chen worth more than $150 million Singaporean dollars ($114 million), as well as a yacht and shelves of liquor.
On Tuesday, Taiwanese prosecutors seized assets from Chen Zhi worth $150 million while detaining 25 suspects.
That included 26 luxury cars including a Ferrari, Bugatti and a Porsche, as well as 11 apartments in an upscale building in Taipei, prosecutors said. Taiwanese media identified it as the same building where the celebrity and Mandarin pop superstar Jay Chou lives.
The same day in Hong Kong, police announced the seizure of $2.75 billion Hong Kong dollars ($353 million) worth of assets made up of mostly cash, stocks and other funds, which local media identified as belonging to Chen Zhi.
UK authorities announced seizures of a $12 million pound ($15.6 million) mansion in North London and a $100 million pound ($130 million) office building on 14 October.
Chen is a Chinese national who gained Cambodian citizenship and a place in the Cambodian elite. Prince has multiple businesses, running a bank and investments in real estate in the country.
However, prosecutors say the bulk of his wealth came from scamming. According to the US indictment, Chen once bragged that the so-called âpig butcheringâ scam was pulling in $30 million a day.
Chen has served as an adviser to Prime Minister Hun Manet and his father, former Prime Minister Hun Sen, and was honored with the title âneak oknhaâ â equivalent to an English lord.
Pheaktra Neth, the Minister of Information for Cambodia’s government, said he had no comment in response to questions from the AP.
