Cambodia extradites alleged multi-billion cyber scam mastermind

Chen Zhi, head of the Prince Group conglomerate, was arrested and extradited to China by Cambodian authorities for allegedly leading a multibillion-dollar cyber scam operation, according to The Record, a news site by cybersecurity firm Recorded Future.

Chen's arrest follows U.S. and UK sanctions imposed on him and 128 linked entities. 17 individuals were also accused of assisting in running the scam operations. The Department of Justice indicted Chen and seized roughly $15 billion in bitcoin from accounts tied to him, while the UK confiscated London properties allegedly linked to Prince Group.

Chen built a vast business empire in Cambodia spanning real estate, banking, and aviation, later becoming a Cambodian citizen. U.S. Treasury accused Prince Group of illegal gambling, money laundering, sextortion, and human trafficking at scam compounds. The allegations have been denied by the company. The Ministry of Interior said Chen was detained alongside two others, Shao Ji Hui and Xu Ji Liang.