Prince Group rejects allegations of running a forced labour scam network after $15 billion in assets seized across US, Europe and Asia
PHNOM PENH: Cambodian conglomerate Prince Holding Group has denied allegations its founder amassed wealth through an internet scam empire after authorities seized over $15 billion in assets globally.
The company issued its first statement since a multinational crackdown began, rejecting claims that chairman Chen Zhi operated a transnational criminal organisation.
“We categorically reject the notion that it or its Chairman, Chen Zhi, has engaged in any unlawful activity,” the company stated on Tuesday.
It described recent allegations as “baseless and appear aimed at justifying the unlawful seizure of assets worth billions of dollars”.
US authorities unsealed an October indictment accusing Chen of presiding over forced labour camps in Cambodia where trafficked workers conducted online scams.
The US Justice Department seized approximately $15 billion worth of Bitcoin allegedly representing criminal proceeds in its largest forfeiture action ever.
Britain froze business and property assets exceeding $130 million while Taiwan, Singapore and Hong Kong conducted seizures reaching $350 million.
“We are confident that when the facts come out, the Prince Group and its Chairman will be fully exonerated,” the company added.
Prince Holding Group operates across more than 30 countries with interests in real estate, financial services and consumer businesses since 2015.
The conglomerate has invested $2 billion in Cambodian real estate including Prince International Plaza shopping mall in Phnom Penh.
Prosecutors allege the company runs elaborate online networks targeting people with romance or business cons while laundering proceeds through cryptocurrency.
The US Justice Department last month called Prince Group “one of Asia’s largest transnational criminal organizations” and said Chen remains “at large”.
Cyber-scam operations have expanded across Southeast Asia with some workers participating willingly while others are trafficked into prison-like conditions.
The company stated allegations “have caused undue harm to thousands of innocent employees, partners and communities who the Group serves”. – AFP
