The Department of Justice (DOJ) announced Tuesday it has indicted the alleged orchestrator of a Cambodia-based cryptocurrency fraud scheme.

The indictment, filed on Oct. 8 and unsealed Tuesday in the Eastern District of New York, alleges that Chen Zhi, who also goes by Vincent, operated forced-labor compounds in Cambodia that conducted crypto investment fraud schemes -- which resulted in billions in losses for victims in the U.S. and around the world -- via his company, Prince Holding Group.

The U.S. Attorney’s Office for the Eastern District and the DOJ’s National Security Division also filed a civil forfeiture complaint against 127,271 Bitcoin -- worth roughly $15 billion. In a release, the DOJ called the filing the largest forfeiture action in the department’s history.

Prince Holding

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