Feds seize $15B from alleged forced labor scam built on "human suffering"
16 days ago
- #scam
- #human-trafficking
- #cybercrime
- Federal prosecutors seized $15 billion from Chen Zhi, alleged kingpin of a scam operation using imprisoned laborers.
- Scammers, often posing as attractive individuals, built fake romantic relationships to trick victims into investing in phony funds.
- Victims were convinced to transfer large amounts of bitcoin to fraudulent investment schemes.
- Many scammers were trafficked and held against their will in compounds with fences and barbed wire.
- Chen Zhi, founder of Cambodia-based Prince Group, allegedly led the operation, netting billions from victims.
- The operation used 'phone farms'—automated call centers—to facilitate cryptocurrency fraud and other cybercrimes.
- Prince Group appeared legitimate but was secretly one of Asia’s largest transnational criminal organizations.
- Chen Zhi’s current whereabouts are unknown.