🔗 Share this article What Are Chen Zhi and the So-Called Crime Network, Accused by the US and UK of Massive Scam Operations? The UK and US have enforced measures on a global syndicate operating from Southeast Asia, allegedly orchestrating large-scale internet fraud schemes that are suspected of exploiting victims of human trafficking to defraud people around the world. This criminal enterprise has flourished in the past few years, especially in certain areas in Cambodia and Myanmar where countless individuals have been duped by false job adverts and then forced to commit internet scams, such as romance scams, often under the menace of torture. The US treasury department stated it had taken what it called the largest action ever in Southeast Asia, focusing on over a hundred individuals connected to the so-called organization, which the UK also penalized. Those sanctioned include the head of the Prince group, the accused figure, as well as more than a dozen individuals linked with his commercial activities across south-east Asia and the Pacific. Understanding the Prince Group and Who is Chen Zhi? Based on official statements, the individual in question, thirty-eight, also known as “Vincent”, is the founder and chairman of Prince Holding Group (the group), a global corporate entity headquartered in Cambodia which, as per its online presence, is focused on “property investment, banking operations and retail offerings”. On 14 October, US authorities stated that Chen, who remains at large, had been indicted for conspiracy to commit fraud and conspiracy to launder money for overseeing the group's activities of fraud centers using coerced labor across the country. His swift rise to riches has won him significant political influence, comprising alleged consulting positions to the nation's leader. The individual, a native of China from 1987, is believed to have acquired nationality in Vanuatu and Cyprus, and is also a Cambodian national. Reasons Behind the Group Been Penalized? The Department of Justice claimed individuals had been held against their will in the scam compounds connected to the syndicate and forced to participate in a variety of deceptive practices that stole billions of dollars from targets in the United States and worldwide. As part of the probe into the leader, the US and UK have seized $15bn (£11.3bn) in bitcoin and blocked London assets. The seized assets are thought to include a £12 million mansion on Avenue Road, one of London’s most expensive addresses, a £95 million office block on Fenchurch Street in the center of the London's banking area, and multiple apartments in central London. “Today the Federal Bureau of Investigation and allies executed one of the biggest crackdowns on fraud in history,” said FBI director the official in a statement about the actions. Who else Is Involved? Based on the US assistant attorney general, the accused was the alleged “chief architect behind a vast digital scam network operating under the group's banner”. He was added to a American blacklist this month alongside more than a dozen additional persons suspected of being involved in his business empire. Over a hundred business entities – registered in multiple Asian jurisdictions among others – were also added to a blacklist because of alleged links to Chen. What will the Sanctions Achieve? Cambodia’s interior ministry spokesperson told media outlets that the government would cooperate with foreign nations in the legal proceeding against the individual. “We do not shielding individuals that violate the law,” the official said. “However, this does not imply 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 massive, with the United Nations calculating in 2023 that about 100,000 people were being forced to execute online scams in Cambodia, as well as at least one hundred twenty thousand in Myanmar and tens of thousands in other Southeast Asian states. Given the prevalence of the enterprise in several Southeast Asian nations, certain worry any apprehensions will leave a vacuum for additional global syndicates to swoop in.