Vincent Chen Zhi, the founder and chairman of the Cambodian Prince Group, has been deported to China following his arrest in Cambodia amid serious allegations of large-scale fraud and money laundering, among other transnational crimes that involved more than US$10 billion.
The Chinese-born tycoon is believed to be the mastermind behind an extensive cyber-fraud empire.
The United States Department of Justice has charged Chen with orchestrating a network of scam compounds in Cambodia that reportedly defrauded victims worldwide of billions of dollars in cryptocurrency. Authorities have confiscated approximately US$14 billion (around HK$109.2 billion) worth of bitcoin linked to Chen, marking the largest cryptocurrency seizure in history.
The 39-year-old was born in Fujian, China and began his career at a small online gaming company before moving to Cambodia after 2010, where he quickly entered the burgeoning real estate sector. He renounced his Chinese citizenship and became a Cambodian citizen in 2014.
Some reports suggested that the technology park run by Prince Group in Sihanoukville was actually a fraud-ridden facility surrounded by high walls and barbed wire, where thousands were lured under false work scam and forced to participate in online scams.
In November, Hong Kong police froze approximately HK$2.75 billion belonging to a suspected multinational wire-fraud and money laundering syndicate, with sources saying the syndicate is linked to Chen.
Taiwanese authorities also froze over NT$4.5 billion (HK$1.13 billion) in assets belonging to Prince Group led by Chen in the same month, including 26 luxury cars -- such as Rolls-Royce and Ferrari -- seized.
