Crackdown on Southeast Asia's Scam Empire: Trafficked Workers and Cryptocurrency Fraud

In a significant joint effort, Britain and the United States sanctioned a transnational organization based in Southeast Asia on Tuesday, accused of extensive online scams involving trafficked labor. The illicit operations spanned Cambodia, Myanmar, and other locations, deceiving individuals through fraudulent job advertisements and romantic entrapments, all under threats of violence.

The scams were sophisticated, persuading victims to channel significant funds into fake cryptocurrency platforms. British Foreign Minister Yvette Cooper highlighted the devastating impact of these operations on vulnerable individuals, pointing out the acquisition of London properties funneling illicit gains.

The U.S. Treasury labelled this as their most extensive action in Southeast Asia, targeting 146 members of the Prince Group, under the leadership of Chen Zhi. The operation included the seizure of 127,271 bitcoin (valued at $14.2 billion), marking a historic forfeiture case by the Department of Justice. Neither Prince Group nor Chen responded to requests for comments.