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Bitcoin valued at $ 15 billion has been captured by the Department of Justice (DOJ) From a massive network of “butchers”, and in what officials say it is the “greatest action of confiscation in the history of the United States”.
The federal prosecutors in Brooklyn, New York, undoed on Tuesday accusing Chen Zhi, also known as “Vincent”, leader of the Prince Holding group in relation to the scam crypto Scheme, based in Cambodia.
37 -year -old Zhi, who is still in general, is also accused of directing the operation of the group of forced labor frauds throughout the country. DOJ said that Zhi used violence to discipline workers.
Federal prosecutors accused Chen Zhi the work camps for all Cambodia, who executed “pig’s butcher’s” scams aimed at crypt investors. (United States District Court Eastern District of New York)
Pictures of the beatings were included in unattended tests in the United States District Court For the Eastern New York district.
Prosecutors also claim that the company was a front for one of the largest criminal companies in Asia.
“As stated, the defendant led one of the largest investment fraud operations in history, feeding an illicit industry that reaches epidemic proportions,” said Joseph Nocella, Jr., North -American lawyer in the Eastern New York district.
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The DOJ took $ 15 billion in Bitcoin from Chen Zhi’s “Butchers” Fraud Network in the largest cryptocurrency confiscation in U.S. history.
According to court documents seen by Fox Business, Zhi built Prince Group, which stated in investing in real estate services, finances and consumer services in more than 30 countries, in a mass network of “telephone farm” compounds.
There, traffic workers were forced to carry out scams that attracted online victims through false romantic relations, financial aid or promises of lucrative investment in cryptocurrency. These schemes are known as “Sha Zhu Pa” or “Pork Butcher”. According to the DOJ.
Prosecutors said that Zhi Company generated up to $ 30 million daily at its peak, stealing crypt funds that remained through what is known as digital wallets without lighting, which makes users in charge.
The 127,271 Bitcoins, worth $ 15 billion and now in United States custody, allegedly remained in ZHI controlled portfolios.
Images of workers of forced labor compounds throughout Cambodia were among the tests without sealing the United States District Court in the Eastern New York district. (United States District Court Eastern District of New York)
The Treasury Department has now designated Prince Group as a “transnational criminal organization” and has announced sanctions against Zhi and its associates.
“This is a person who allegedly operated a vast criminal network on various continents that involve forced labor, money laundering, investment schemes and stolen assets aimed at millions of innocent victims in the process,” said FBI director. Kash Patel In a statement.
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“Today the FBI and the partners have executed one of the largest financial fraud in history,” Patel added.
Fox Business has contacted the DOJ and Prince Holding group to comment.
Fox Business’ Aislinn Murphy contributed to this report.
