Prince Group Indicted, Operating Cambodian Forced Labor, Scam Compounds Engaged — Chairman of Prince Group Indicted for Operating Cambodian Forced Labor Scam Compounds Engaged in Cryptocurrency Fraud Schemes | United States Justice Department.
Custody An indictment was unsealed today in federal court in Brooklyn, New York, charging UK and Cambodian national Chen Zhi, also known as Vincent, 37, the founder and chairman of Prince Holding Group (Prince Group), a multinational business conglomerate based in Cambodia, with wire fraud conspiracy and money laundering conspiracy for directing Prince Group’s operation of forced-labor scam compounds across Cambodia. announcement Chairman of Prince Group Indicted for Operating Cambodian Forced Labor Scam Compounds Engaged in Cryptocurrency Fraud Schemes Tuesday, October 14, 2025 Share Facebook X LinkedIn Email For Immediate Release Office
of Public Affairs Justice Department Files Largest Ever Forfeiture Action Against Approximately $15B in Bitcoin Currently in U.S. Attorney’s Office for the Eastern District of New York and the Justice Department’s National Security Division also filed today a civil forfeiture complaint against approximately 127,271 Bitcoin, currently worth approximately $15 billion, that are proceeds and instrumentalities of the defendant’s fraud and money laundering schemes, and were previously stored in unhosted cryptocurrency wallets whose private keys the defendant had in his possession. This historic indictment and forfeiture complaint send a strong message to fraudsters
everywhere that we will pursue you no matter where you are, no matter who you are, and no matter your insidious methods, and we will never stop fighting for victims.”As alleged in the indictment and forfeiture complaint, since approximately 2015, the defendant has been the founder and chairman of Prince Group, a Cambodian corporate conglomerate that operates dozens of business entities in more than 30 countries. One such network operated in Brooklyn, New York, and facilitated the fraudulent transfer and laundering of millions of dollars on behalf of Prince Group from over 250 victims in New