BlockBeats News, October 31st. According to Caixin’s report, Cambodia’s Prince Group is suspected of operating a large-scale transnational fraud syndicate. Following the mid-October announcement of lawsuits by the United States and the United Kingdom against the “Prince Group” leader Chen Zhi and the seizure of his holdings of approximately $15 billion in Bitcoin, the Singapore police today announced that they have taken enforcement action against the Cambodian telecommunications fraud group “Prince Group” leader Chen Zhi and his associates, seizing assets worth over 150 million SGD (about 800 million RMB).
During the enforcement action, the Singapore police issued asset freeze orders on a total of 6 properties held by Chen Zhi and his associates, as well as various financial assets including bank accounts, securities accounts, and cash. The Singapore police stated that Chen Zhi and his associates are currently not in Singapore, and the investigation is still ongoing.
