Chen Zhi, 38, who heads Phnom Penh-based Prince Group, was charged by federal prosecutors in Brooklyn, New York, with engaging in a wire-fraud conspiracy and operating a money-laundering scheme. (Photo: Rick Maiman/Bloomberg) Show Quick Read Summary is AI Generated. Newsroom Reviewed

The chairman of Cambodian conglomerate Prince Group was charged Tuesday by the US with running a “sprawling cyber fraud empire” that led to the seizure of Bitcoin worth about $15 billion in what prosecutors called the largest ever forfeiture action.

Chen Zhi, 38, who heads Phnom Penh-based Prince Group, was charged by federal prosecutors in Brooklyn, New York, with engaging in a wire-fraud conspiracy and operating a money-laundering scheme. Chen’s operation allegedly used forced-labor in Cambodia to emo

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