Cambodia extradites suspected crypto scam boss to China

Chinese authorities on Thursday confirmed that Cambodia had extradited a tycoon accused of running a massive online scam operation.

Chinese-born Chen Zhi is chairman of Prince Holding Group, one of Cambodia's largest conglomerates that the US says has served as a front for "one of Asia's largest transnational criminal organizations."

The US had indicted and sanctioned him in October on fraud and money-laundering charges over running a multibillion-dollar cyberscam network from Cambodia.

Cambodia said on Wednesday it arrested him and two other Chinese nationals and extradited them to China.

US prosecutors estimated that Chen's organization scammed 250 Americans out of millions of dollars, including one victim losing $400,000 worth of cryptocurrency.

Chen is accused of directing operations of forced labor compounds across Cambodia. According to US prosecutors, trafficked workers were held in prison-like facilities there, surrounded by high walls and barbed wire.

Workers were allegedly forced to execute scams targeting victims worldwide, possibly causing billions in losses.

They are believed to have mainly carried out "pig butchering" scams, which are cryptocurrency investment schemes aiming to build trust with victims over time before stealing their funds.

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After the US indictment, Cambodia initially issued a muted response, saying it doesn't protect criminals while not accusing Chen or Prince Group of wrongdoing.

But the Cambodian government was facing increasing pressure to crack down on scam centers, especially Chen's.

The UK froze Chen's British businesses and assets, while authorities in Singapore, Taiwan and Hong Kong launched probes.

Chen's Cambodian nationality was revoked in December, after serving as an adviser to Prime Minister Hun Manet.

Rights groups say there are dozens of scam compounds in Cambodia, where criminal networks are believed perpetrate human trafficking, forced labor, torture and slavery.