World's most notorious scammer arrested, extradited to China
What's the story
Chinese businessman Chen Zhi, who was indicted by the US for fraud and money laundering, has been arrested in Cambodia and extradited to China. The US Department of Justice had earlier accused him of running a multibillion-dollar online scam network from Cambodia. He is also said to have run forced labor camps across Cambodia where trafficked workers were kept in prison-like conditions.
Extradition details
Chen's extradition follows months of joint investigative cooperation
The Cambodian Interior Ministry announced the extradition of Chen and two other Chinese nationals, Xu Ji Liang and Shao Ji Hui, to China. The operation was carried out on January 6 as part of a collaborative effort against transnational crime. This comes after months of joint investigative work with Chinese authorities. In December, Chen's Cambodian nationality was revoked by royal decree.
Scam operations
Chen's alleged role in global cryptocurrency scam
Chen is accused of running internet scams from Cambodia that stole billions in cryptocurrency. The US Treasury Department seized some $14 billion worth of Bitcoin in connection with operations linked to him. The UK also sanctioned his global business empire, Prince Group, as part of the crackdown on these operations. Despite the allegations, Prince Group has denied any involvement in scams and maintains that its businesses include property development and financial services.
Business empire
Chen's operations and political connections
Since around 2015, Prince Group has operated in over 30 countries under the guise of legitimate businesses. US prosecutors allege that Chen and other top executives used political influence and bribed officials in several countries to shield their illegal activities. In Cambodia, Chen has served as an adviser to both Prime Minister Hun Manet and his father, former leader Hun Sen.