{"id":60228,"date":"2025-10-14T17:06:50","date_gmt":"2025-10-14T21:06:50","guid":{"rendered":"https:\/\/bnonews.com\/?p=60228"},"modified":"2025-10-14T17:06:50","modified_gmt":"2025-10-14T21:06:50","slug":"u-s-seizes-record-15-billion-in-bitcoin-linked-to-human-trafficking-and-fraud-network","status":"publish","type":"post","link":"https:\/\/bnonews.com\/index.php\/2025\/10\/u-s-seizes-record-15-billion-in-bitcoin-linked-to-human-trafficking-and-fraud-network\/","title":{"rendered":"U.S. seizes record $15 billion in Bitcoin linked to human trafficking and fraud network"},"content":{"rendered":"\n<p>The U.S. government has filed its largest-ever cryptocurrency forfeiture case and unsealed criminal charges against a Cambodian business magnate accused of running one of the world\u2019s largest human trafficking and cyber-fraud networks, according to federal officials.<\/p>\n\n\n\n<p>Chen Zhi, also known as \u201cVincent,\u201d the founder and chairman of Prince Holding Group, was charged in Brooklyn federal court with conspiracy to commit wire fraud and money laundering, <a href=\"https:\/\/www.justice.gov\/usao-edny\/pr\/chairman-prince-group-indicted-operating-cambodian-forced-labor-scam-compounds-engaged\">according<\/a> to the U.S. Attorneys Office for the Eastern District of New York on Tuesday.<\/p>\n\n\n\n<p>Prosecutors allege that Chen directed a vast criminal enterprise that operated forced-labor compounds across Cambodia, where trafficked workers were forced to carry out cryptocurrency scams that defrauded victims around the world. Chen remains at large.<\/p>\n\n\n\n<p>\u201cToday\u2019s action represents one of the most significant strikes ever against the global scourge of human trafficking and cyber-enabled financial fraud,\u201d Attorney General Pamela Bondi said.<\/p>\n\n\n\n<p>According to the Justice Department, workers held inside the compounds were confined behind high walls and barbed wire, subjected to violence, and forced to participate in \u201cpig butchering\u201d scams, long-term online investment fraud schemes that stole billions of dollars from victims, including many in the United States.<\/p>\n\n\n\n<p>The network\u2019s reach extended into the U.S., including a cell operating in Brooklyn that helped launder money from over 250 victims.<\/p>\n\n\n\n<p>The U.S. also moved to seize roughly 127,000 bitcoin, valued at about $15 billion, that investigators say were proceeds of the schemes. <\/p>\n\n\n\n<p>Officials said the cryptocurrency was held in wallets controlled by Chen and is now in U.S. government custody, marking the largest forfeiture action in Justice Department history.<\/p>\n\n\n\n<p>Investigators said Chen and his associates used political influence and bribery to shield their operations from law enforcement, while laundering billions through cryptocurrency, gambling, and real estate ventures. <\/p>\n\n\n\n<p>They allegedly spent profits on luxury goods, including private jets, yachts, and fine art, among them a Picasso painting purchased through a New York auction house.<\/p>\n\n\n\n<p>The Department of the Treasury designated Prince Group a transnational criminal organization and imposed sanctions on Chen and several associates. The United Kingdom also announced sanctions against the same network.<\/p>\n\n\n\n<p>If convicted, Chen faces up to 40 years in prison.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. government has filed its largest-ever cryptocurrency forfeiture case and unsealed criminal charges against a Cambodian business magnate accused of running one of the world\u2019s largest human trafficking and cyber-fraud networks, according to federal officials. Chen Zhi, also known as \u201cVincent,\u201d the founder and chairman of Prince Holding Group, was charged in Brooklyn federal [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":45721,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[6],"tags":[1233,3333,2081,3393,3212,151],"class_list":["post-60228","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legal","tag-bitcoin","tag-brooklyn-nyc","tag-cambodia","tag-fraud","tag-human-trafficking","tag-united-states"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>U.S. seizes record $15 billion in Bitcoin linked to human trafficking and fraud network - BNO News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bnonews.com\/index.php\/2025\/10\/u-s-seizes-record-15-billion-in-bitcoin-linked-to-human-trafficking-and-fraud-network\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"U.S. seizes record $15 billion in Bitcoin linked to human trafficking and fraud network - BNO News\" \/>\n<meta property=\"og:description\" content=\"The U.S. government has filed its largest-ever cryptocurrency forfeiture case and unsealed criminal charges against a Cambodian business magnate accused of running one of the world\u2019s largest human trafficking and cyber-fraud networks, according to federal officials. Chen Zhi, also known as \u201cVincent,\u201d the founder and chairman of Prince Holding Group, was charged in Brooklyn federal [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/bnonews.com\/index.php\/2025\/10\/u-s-seizes-record-15-billion-in-bitcoin-linked-to-human-trafficking-and-fraud-network\/\" \/>\n<meta property=\"og:site_name\" content=\"BNO News\" \/>\n<meta property=\"article:publisher\" content=\"http:\/\/www.facebook.com\/bnonews\/\" \/>\n<meta property=\"article:published_time\" content=\"2025-10-14T21:06:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/bnonews.com\/wp-content\/uploads\/2024\/09\/2017BTCBills.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Carlos Robles\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@bnonews\" \/>\n<meta name=\"twitter:site\" content=\"@bnonews\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Carlos Robles\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/bnonews.com\/index.php\/2025\/10\/u-s-seizes-record-15-billion-in-bitcoin-linked-to-human-trafficking-and-fraud-network\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/bnonews.com\/index.php\/2025\/10\/u-s-seizes-record-15-billion-in-bitcoin-linked-to-human-trafficking-and-fraud-network\/\"},\"author\":{\"name\":\"Carlos Robles\",\"@id\":\"https:\/\/bnonews.com\/#\/schema\/person\/0a2ca734b9c5688c0e2d40fe6f33add1\"},\"headline\":\"U.S. seizes record $15 billion in Bitcoin linked to human trafficking and fraud network\",\"datePublished\":\"2025-10-14T21:06:50+00:00\",\"dateModified\":\"2025-10-14T21:06:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/bnonews.com\/index.php\/2025\/10\/u-s-seizes-record-15-billion-in-bitcoin-linked-to-human-trafficking-and-fraud-network\/\"},\"wordCount\":370,\"publisher\":{\"@id\":\"https:\/\/bnonews.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/bnonews.com\/index.php\/2025\/10\/u-s-seizes-record-15-billion-in-bitcoin-linked-to-human-trafficking-and-fraud-network\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/bnonews.com\/wp-content\/uploads\/2024\/09\/2017BTCBills.jpg\",\"keywords\":[\"bitcoin\",\"Brooklyn (NYC)\",\"Cambodia\",\"Fraud\",\"Human trafficking\",\"United States\"],\"articleSection\":[\"Legal\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/bnonews.com\/index.php\/2025\/10\/u-s-seizes-record-15-billion-in-bitcoin-linked-to-human-trafficking-and-fraud-network\/\",\"url\":\"https:\/\/bnonews.com\/index.php\/2025\/10\/u-s-seizes-record-15-billion-in-bitcoin-linked-to-human-trafficking-and-fraud-network\/\",\"name\":\"U.S. seizes record $15 billion in Bitcoin linked to human trafficking and fraud network - 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