🔗 Share this article Who Is Chen Zhi and the So-Called Crime Network, Accused by the US and UK of Large-Scale Scam Operations? The United Kingdom and US have imposed sanctions on a multinational network operating from Southeast Asia, allegedly running extensive online scam operations that are suspected of using trafficked workers to defraud individuals around the world. This criminal enterprise has flourished in recent years, particularly in parts of Cambodia and Myanmar where hundreds of thousands have been duped by fraudulent employment offers and then coerced to commit internet scams, such as fake relationship schemes, often under the menace of torture. The US treasury department stated it had implemented what it called the largest action ever in Southeast Asia, focusing on 146 people connected to the so-called organization, which the UK also sanctioned. Those sanctioned comprise the leader of the Prince group, the accused figure, as well as more than a dozen individuals connected to his commercial activities across Southeast Asia and Pacific regions. What is the Prince Group and Who is Chen Zhi? According to authoritative sources, Chen Zhi, 38, also known as “Vincent”, is the founder and chairman of Prince Holding Group (Prince Group), a multinational business conglomerate based in the Southeast Asian nation which, according to its website, is centered around “property investment, financial services and retail offerings”. On 14 October, US authorities stated that Chen, who remains at large, had been indicted for wire fraud conspiracy and conspiracy to launder money for overseeing Prince Group’s operation of fraud centers using coerced labor across Cambodia. Chen’s rapid ascent to wealth has gained him substantial clout, comprising alleged consulting positions to Cambodia’s prime minister. Chen, a native of China from 1987, is thought to have acquired nationality in Cyprus and Vanuatu, and is also a Cambodian national. Why have They Been Sanctioned? The US justice department claimed individuals had been forcibly detained in the scam compounds linked with the syndicate and made to participate in a variety of fraudulent schemes that defrauded massive sums from targets in the US and worldwide. As part of the investigation into the leader, the US and UK have confiscated $15 billion (£11.3 billion) in cryptocurrency and frozen London assets. The seized assets are thought to include a £12m residence on Avenue Road, one of the costliest locations in London, a £95m office block on Fenchurch Street in the center of the City of London’s financial district, and multiple apartments in central London. “Now the FBI and allies carried out one of the biggest crackdowns on fraud in recorded time,” said FBI director Kash Patel in a announcement about the actions. Who else Are Implicated? Based on the senior justice official, Chen was the supposed “chief architect behind a sprawling cyber-fraud empire operating under the Prince Group umbrella”. He was placed on a American blacklist this October alongside over a dozen additional persons suspected of being participating in his commercial network. More than 100 business entities – based in multiple Asian jurisdictions among others – were also added to a sanctions list because of alleged links to Chen. What will the Sanctions Do? Cambodia’s interior ministry spokesperson told news agencies that the government would work together with other countries in the case against the individual. “We do not protecting persons that violate the law,” he said. “But it does not mean that we are accusing Prince Group or Chen Zhi of engaging in illegal acts like the allegations made by the US or the UK.” In spite of the unprecedented tranche of sanctions, experts say the scam industry is still enormous, with the United Nations estimating in 2023 that about 100,000 people were being forced to carry out online scams in the nation, as well as at least one hundred twenty thousand in Myanmar and many thousands in Thailand, Laos and the Philippines. Given the widespread nature of the industry in multiple south-east Asian countries, certain worry any arrests will create a gap for additional global syndicates to swoop in.