Cambodia Prince Group Founder Chen Zhi Approved for Arrest
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Cambodia Prince Group Founder Chen Zhi Approved for Arrest
According to Caixin, Chen Zhi, founder of Cambodia's Prince Group, was approved for arrest on July 6, suspected of charges including copyright infringement, fraud, operating casinos, intentional injury, and illegal business operations. Chen Zhi was escorted back to China this January. Compared to previous charges, this arrest approval removes the charge of concealing or disguising criminal proceeds and adds charges of copyright infringement and intentional injury. Previously, Chen Zhi built a cross-border telecom fraud network centered around "Jinbei Park," and the US confiscated related Bitcoin worth approximately $15 billion.
Navigating Web3 tides with focused insightsTechFlow news, July 27, according to Caixin reports, Chen Zhi, founder of Cambodia's Prince Group, was approved for arrest on July 6, suspected of charges including copyright infringement, fraud, operating casinos, intentional injury, and illegal business operations. Chen Zhi was repatriated to China in January this year; the charges for this arrest are reduced compared to previous ones, with the charge of concealing or disguising criminal proceeds removed, and charges of copyright infringement and intentional injury added. Previously, Chen Zhi built a cross-border telecom fraud network centered around the "Jinbei Park", and the relevant Bitcoin confiscated by the United States was valued at approximately $15 billion.
