Bitcoin worth $ 14 billion, seized in US-UK repression in alleged scammers

The US government has captured over $ 14 billion ($ 10.5 billion in British) in Bitcoin and accused the founder of the Cambodic Business Empire with an alleged control of massive cryptocurrency fraud.

The United Kingdom and Cambodia National Chen Gi were charged on Tuesday in New York for alleged involvement in a conspiracy for violence and the implementation of a money laundering scheme.

The business of G -Chen was sanctioned by the United States and the United Kingdom as part of a joint operation. The United Kingdom government says it has frozen assets owned by its network, including 19 London properties – one of which is worth nearly £ 100 million ($ 133 million).

The BBC contacted the Prince Holding group for comment. An email sent to his general inquiry address was returned unpaid.

US prosecutors say it is the largest financial rams in history and the biggest Bitcoin enthusiast, with approximately 127,271 Bitcoin held by the US government.

Mr Chen, who remains at large, is accused of being a leader behind the “widespread cyber-Isma Empire” operating under his multinational company The Prince Group, the group said, said The US Department of Justice (DOJ)S

The website of Cambodia -based is said that his business involves the development of real estate and financial and consumer services. But DOJ claims to manage one of the largest transnational criminal organizations in Asia.

Undesirable casualties were connected online and were convinced to transfer cryptocurrency based on false promises that the funds would be invested and generated, DOJ said.

Prosecutors claim that the company under the management of G -Cen has built and managed at least ten frauds in Cambodia, according to the court documents discussed by the BBC.

D -Chen has been accused of managing compounds and tracking profits from fraud, prosecutors said.

His complicit is claimed to have purchased millions of mobile phone numbers and created “phone farms” to conduct call fraud, according to court documentsS

Two of these facilities had 1 250 mobile phones that controlled about 76,000 social media accounts, the documents said.

Assistant Prosecutor General for National Security John A Eisenberg described the prince’s group as “a criminal endeavor built on human suffering.”

It also trafficking workers who have been imprisoned in prison compounds and forced to perform fraud online targeting thousands of casualties around the world, he said.

G -n -chen and his accomplices claim to have used penalty revenues for luxury trips and entertainment, DOJ said.

They also made “extravagant” purchases such as watches, private planes and rare works of art, including Picasso purchases from a New York auction house, the department said.

If convicted, J -Chen is confronted with a maximum sentence of 40 years in prison.

In the UK, Chen and his accomplices allegedly included businesses in the British Virgin Islands and invested in the UK ownership. Its network assets include an office building of £ 100 million in Central London, a £ 12 million mansion in North London and seventeen apartments in the city, said The United Kingdom Foreign Office on TuesdayS

Being sanctioned as part of a joint operation with US authorities means that it is already locked by the United Kingdom’s financial system.

The Prince Group is also sanctioned in the United States and is referred to as a criminal organization.

They “ruin the lives of vulnerable people and buy London homes to store their money,” said the United Kingdom Foreign Secretary Yvet Cooper.

Cooper said: “Together with our allies in the United States, we take decisive action to combat the growing transnational threat represented by this network – maintaining human rights, protecting British citizens and maintaining dirty money from our streets.”

The Ministry of Foreign Affairs said that G -H -Chen and Prince Group had built casinos and compounds used as fraud centers and drank the proceeds.

Four businesses associated with alleged fraud – Prince Group, Jin Bei Group, Golden Fortune Resorts World and Byex Exchange – are also sanctioned, the Foreign Ministry said.

Two fraud centers, which are said to be managed by JIN Bei Group and Golden Fortune Resorts were listed earlier this year in an international AMNESTY report on the use of forced labor and torture in Cambodian fraud centers.

People working at fraud centers are often foreign citizens, lured by the promise of legal work, and are then forced to perform fraud under the threat of torture, the Ministry of Foreign Affairs said.

Fraud Fraud Lord Hanson said: “The cheaters are prey to the most vulnerable, stealing life savings, ruining trust and devastating lives. We will not tolerate this.”