TechFlow, on November 4, according to Hong Kong media Aastocks, the Hong Kong police launched a financial investigation into a suspected international cross-border telecom fraud and money laundering syndicate, freezing approximately HK$2.75 billion in assets of the group as of today. It is understood that the case involves Chen Zhi, founder of Cambodia's太子Group.
The Hong Kong police stated that after collecting intelligence and data from multiple sources and conducting in-depth analysis of fund flows related to companies and bank accounts associated with the syndicate, they found evidence suggesting the group is suspected of money laundering offenses. The frozen assets include cash, stocks, funds, and other holdings owned by individuals or companies, which are believed to be proceeds from criminal activities. It is reported that the Financial Intelligence and Investigation Bureau of the Hong Kong Police Force is actively following up on the case, and no arrests have been made so far.
