DoJ Seizes $15 Billion in Bitcoin

[1srelluc]

Chairman of Prince Group Indicted for Operating Cambodian Forced Labor Scam Compounds Engaged in Cryptocurrency Fraud Schemes

An indictment was unsealed today in federal court in Brooklyn, New York, charging Cambodian national Chen Zhi, also known as Vincent, 37, the founder and chairman of Prince Holding Group (Prince Group), a multinational business conglomerate based in Cambodia, with wire fraud conspiracy and money...

www.justice.gov

Chairman of Prince Group Indicted for Operating Cambodian Forced Labor Scam Compounds Engaged in Cryptocurrency Fraud Schemes​

An indictment was unsealed today in federal court in Brooklyn, New York, charging Cambodian national Chen Zhi, also known as Vincent, 37, the founder and chairman of Prince Holding Group (Prince Group), a multinational business conglomerate based in Cambodia, with wire fraud conspiracy and money laundering conspiracy for directing Prince Group’s operation of forced-labor scam compounds across Cambodia. Individuals held against their will in the compounds engaged in cryptocurrency investment fraud schemes, known as “pig butchering” scams, that stole billions of dollars from victims in the United States and around the world. The defendant is at large.

The communication is about as fuzzy as the whole Bitcoin thing itself.

They physically confiscated the crypto wallets as best I can understand.

 

[odanny]

Spend real money to buy fake money.

No thanks.

 

[Invisibleflash]

 

[Blaster]

I own crypto currency and it has been good for me but I am a smart investor.

 

[Eman623]

Wow. I thought Bitcoin was supposed to be safe from government seizure. I wonder how they got the private keys? Someone must have either flipped on Chen or we hacked into his systems and got them.

Couldn't have happened to a nicer guy. Slaver, fraudster, scammer.