🔗 Share this article Who Are Chen Zhi and the So-Called Crime Network, Accused by the United States and United Kingdom of Massive Scam Operations? The United Kingdom and US have imposed sanctions on a multinational network based in south-east Asia, accused of running extensive online scam operations that are believed to exploiting trafficked workers to defraud individuals globally. This criminal enterprise has flourished in recent years, particularly in parts of Cambodia and Myanmar where countless individuals have been duped by false job adverts and then forced to carry out internet scams, such as fake relationship schemes, sometimes under the threat of physical harm. The United States Treasury stated it had implemented what it described as the most significant measure to date in south-east Asia, focusing on over a hundred individuals associated with the Prince Group, which the United Kingdom also sanctioned. Those sanctioned comprise the head of the alleged network, the accused figure, as well as numerous persons connected to his commercial activities throughout Southeast Asia and Pacific regions. What is the Prince Group and the Identity of Chen Zhi? Based on authoritative sources, Chen Zhi, thirty-eight, also referred to as “the alias”, is the founder and chairman of Prince Holding Group (Prince Group), a global corporate entity based in the Southeast Asian nation which, according to its website, is centered around “real estate development, financial services and retail offerings”. On 14 October, US authorities stated that the accused, who remains at large, had been indicted for conspiracy to commit fraud and money laundering conspiracy for overseeing Prince Group’s operation of fraud centers using coerced labor throughout the country. His swift rise to riches has gained him substantial clout, comprising reported advisory roles to the nation's leader. The individual, a native of China from 1987, is believed to have acquired nationality in Cyprus and Vanuatu, and is also a citizen of Cambodia. Why have the Group Been Penalized? The US justice department alleged people had been held against their will in the scam compounds connected to the syndicate and forced to participate in a range of deceptive practices that stole massive sums from victims in the US and globally. As part of the probe into Chen, the United States and UK have seized $15bn (£11.3 billion) in cryptocurrency and frozen London assets. The frozen properties are thought to include a £12m residence on a prestigious street, one of the costliest locations in London, a £95m office block on a key financial avenue in the heart of the London's banking area, and several flats in central London. “Today the FBI and allies executed one of the largest financial fraud takedowns in history,” said the bureau's head Kash Patel in a announcement about the measures. Who else Is Involved? According to the senior justice official, Chen was the supposed “chief architect behind a sprawling digital scam network functioning under the Prince Group umbrella”. He was placed on a US sanctions list this October together with over a dozen additional persons suspected of being participating in his commercial network. More than 100 business entities – registered in Cambodia, Singapore, Hong Kong and Taiwan and more – were also placed on a sanctions list because of suspected connections to Chen. What will the Measures Do? Cambodia’s interior ministry spokesperson told media outlets that the authorities would cooperate with foreign nations in the case against the individual. “We do not shielding individuals that violate the law,” he said. “But it does not mean that we blame the group or its leader of engaging in illegal acts like the allegations issued by the US or the UK.” Despite the unprecedented tranche of sanctions, analysts say the scam industry is still enormous, with the United Nations estimating in 2023 that about a hundred thousand individuals were being compelled to carry out internet fraud in Cambodia, as well as at least one hundred twenty thousand in the neighboring country and tens of thousands in other Southeast Asian states. Given the widespread nature of the enterprise in several Southeast Asian nations, some worry any apprehensions will create a gap for additional global syndicates to swoop in.