Thailand seizes assets linked to Cambodian scam tycoon Chen Zhi

Concerning Chen, who holds British and Cambodian citizenship, the office has uncovered an online fraud network with human trafficking operations and money laundering involving digital currency, the Transaction Committee of the Anti-Money Laundering Office said Monday, as reported by Nation Thailand.

The 37-year-old chairman of Prince Holding Group operates a fraud and criminal networks and uses money laundering techniques to convert funds across countries into digital assets, the office added.

The office collected 102 items from his network, including land, cash, branded goods, and jewelry worth approximately THB373 million.

Chen Zhi, chairman of Prince Holding Group. Photo courtesy of the group

Chen, who remains at large, has been identified by the U.S. and U.K. governments as the operator of a transnational criminal operation that used forced labor in scam centers and laundered billions of dollars worldwide.

Authorities in the U.S., U.K., Singapore and Hong Kong have also seized and frozen assets linked to him.

Thailand’s Anti-Money Laundering Office has also seized assets from another Cambodia-based money laundering network linked to Cambodian national Kok An, a 71-year-old senator and casino tycoon.

Its investigation uncovered a fraud network engaged in cybercrime, in which money was transferred through bank accounts and subsequently used to purchase assets. These assets were held by associated individuals in Thailand.

It seized and frozen 90 items such as land and bank accounts with a combined value of THB467 million.