Prosecutors seize yachts, luxury cars from man accused of running Cambodia cyberscams

Prosecutors in Taiwan, Hong Kong, and Singapore have seized hundreds of millions of dollars in assets belonging to Cambodian businessman Chen Zhi, accused by the U.S. of leading a global cyber-scam syndicate.

Chen, founder of Prince Holding Group, faces U.S. charges of wire fraud and money laundering, alongside a massive seizure of $14 billion in bitcoin, and joint sanctions from the U.S. and U.K. authorities.

The network allegedly scammed victims across multiple countries, including 250 in the U.S., through schemes ranging from fake investments to romance scams.

Singapore, Taiwan, and Hong Kong have confiscated luxury assets including yachts, high-end cars, apartments, cash, and stocks, while U.K. authorities seized a mansion and an office building, NPR has reported.

Chen, a Chinese national with Cambodian citizenship and ties to the country’s elite, reportedly amassed his fortune largely through scams, despite also running legitimate businesses and serving as an adviser to Cambodia’s leaders.