Cambodia Prince Group Founder Chen Zhi Approved for Arrest

TechFlow 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.