An indictment was unsealed today in federal court in Brooklyn charging Chen Zhi, also known as “Vincent,” the founder and chairman of Prince Holding Group (Prince Group), a multinational business conglomerate based in Cambodia, with wire fraud conspiracy and money laundering conspiracy for directing Prince Group’s operation of forced-labor scam compounds across Cambodia. Individuals held against their will in the compounds engaged in cryptocurrency investment fraud schemes, known as “pig butchering” scams, that stole billions of dollars from victims in the United States and around the world.
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123 sats \ 0 replies \ @Solomonsatoshi 14 Oct
A friend of mine who has worked for decades for NGOs with hill tribes in Cambodia was scammed out of his life savings by one of these pig butchering operations.
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21 sats \ 0 replies \ @Scoresby 15 Oct
Maybe I missed it, but how did they get the keys? Did the guy travel to the US with the keys? Did they raid some place he kept them in Cambodia? There is a story here.
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21 sats \ 0 replies \ @cointastical 15 Oct
See also:
U.S. Targets Cambodian Pig Butchering, $14B in Bitcoin as Biggest ever Seizure
#1256048
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21 sats \ 0 replies \ @Solomonsatoshi 14 Oct
'The United States Attorney’s Office for the Eastern District of New York and the Department’s National Security Division also filed today a civil forfeiture complaint against approximately 127,271 bitcoin, currently worth approximately $15 billion, that are proceeds and instrumentalities of the defendant’s fraud and money laundering schemes, and were previously stored in unhosted cryptocurrency wallets whose private keys the defendant had in his possession. Those funds (the Defendant Cryptocurrency) are presently in the custody of the U.S. government. The complaint is the largest forfeiture action in the history of the Department of Justice.'
Would these 127,271 Bitcoin then go into the US Bitcoin Reserve Fund?
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