Cambodia raids buildings linked to Chen Zhi, Chinese billionaire accused of scam empire
samlot chit
Cambodia raids buildings linked to Chen Zhi, Chinese billionaire accused of scam empire
82 Chinese nationals among 104 people detained in Phnom Penh raids as governments around the world crack down on Chen’s scam business
Governments around the world have intensified their crackdown on Chen’s alleged multibillion-dollar online scam empire since his arrest earlier this year.
The Cambodian raid, a joint operation by Phnom Penh police, the country’s Commission for Combating Technology-Based Scams (CCTC), the local government and representatives from the prosecutor’s office, took place on Saturday, the Phnom Penh Post said.
The detained individuals were of six nationalities and were accused of running online scam operations or living in the country illegally, it said.
The police also confiscated 800 mobile phones, more than 100 computers and other materials, the report added.
“Based on preliminary forensics, the suspects utilised the locations to carry out technology-based fraud by luring people both inside and outside the country into fake investment schemes,” the CCTC was quoted as saying.
US law firm Boies Schiller Flexner LLP, previously listed as legal representative on the website of the Prince Group spearheaded by Chen, did not immediately respond to requests for comment.
Chen, the founder of Prince Holding Group, was arrested along with two Chinese associates by Cambodian authorities in January after months of bilateral law enforcement cooperation. All three were immediately extradited to China at the request of Chinese authorities.
China’s Ministry of Public Security said at the time that Chen was accused of various crimes, including opening a casino, fraud, illegal operations and concealing criminal proceeds. The case is being processed, though Chinese authorities have not released any public updates regarding its progress.
He is suspected of multiple crimes, including operating casinos, fraud, illegal business operations and concealing the proceeds of crime. Xinhua said Li had been taken into custody and the case was under investigation.
Chen’s conglomerate spans more than 30 countries and includes a range of interests, from real estate to financial services. In recent months, multiple governments have acted to seize or freeze his assets.
Most recently, a Hong Kong court last week ordered the freezing of properties and assets worth more than HK$9 billion (US$1.15 billion) held by Chen and companies and individuals tied to him, including a commercial building in the Tsim Sha Tsui area valued at HK$3 billion and a luxury mansion worth HK$1 billion on The Peak, one of the world’s most exclusive and expensive residential neighbourhoods.
Chen has also been sanctioned by Britain and the United States. In October, the US Department of the Treasury designated the Prince Group network as a “transnational criminal organisation”.
China has been pushing for more cooperation with Southeast Asian countries to crack down on telecoms fraud.
Last year, Chinese police said more than 5,500 suspects had been repatriated to China after a coordinated crackdown on criminal activities in the Myawaddy region of Myanmar, under a trilateral mechanism set up by China, Myanmar and Thailand.