The Luxurious Life of a Scammer: How One Man's Cybercrime Empire Unraveled

A wealthy businessman is under fire. Authorities in Taiwan, Hong Kong, and Singapore have taken action. They've seized assets worth hundreds of millions of dollars. These assets belong to a Cambodian businessman named Chen Zhi. The U. S. accuses him of running a massive cyber-scam network. This network spans multiple countries, including the U. S. , the U. K. , and Palau. Chen Zhi is the founder of the Prince Holding Group. U. S. authorities have charged him with wire fraud conspiracy and money laundering conspiracy. They revealed the charges on October 14. Alongside the charges, they seized crypto assets worth about $14 billion in bitcoin. The U. S. and U. K. governments also imposed joint sanctions on Chen, his collaborators, and his company. Scammers based in Cambodia, Laos, Myanmar, and the Philippines are a growing concern. The U. N. estimates that these scammers make tens of billions of dollars every year. They target victims worldwide with various schemes. These schemes range from fake investments to romance scams. According to the indictment, Chen's network scammed 250 victims in the U. S. The Prince Holding Group did not respond to requests for comment. Authorities have seized a variety of assets from Chen. These assets are spread across different jurisdictions. Singapore launched an investigation on October 30. They seized financial assets worth over $150 million Singaporean dollars. This is about $114 million. They also seized a yacht and shelves of liquor. On the same day, Taiwanese prosecutors detained 25 suspects. They seized assets worth $150 million. These assets included 26 luxury cars, such as a Ferrari, Bugatti, and a Porsche. They also seized 11 apartments in an upscale building in Taipei. Hong Kong police announced the seizure of $2. 75 billion Hong Kong dollars. This is about $353 million. The assets included cash, stocks, and other funds. U. K. authorities seized a $12 million pound mansion in North London. They also seized a $100 million pound office building. Chen is a Chinese national who gained Cambodian citizenship. He is part of the Cambodian elite. His company, Prince, has multiple businesses. These include a bank and real estate investments. However, prosecutors allege that most of his wealth came from scamming. According to the U. S. indictment, Chen once bragged that his "pig butchering" scam made $30 million a day. Chen has served as an adviser to Prime Minister Hun Manet and his father. His father is former Prime Minister Hun Sen. He was honored with the title "neak oknha. " This title is equivalent to an English lord. The Cambodian government's Minister of Information, Pheaktra Neth, had no comment.