US indicts Cambodian tycoon over $15bn crypto scam empire

US authorities on Tuesday unsealed an indictment against Chen Zhi, a UK-Cambodian businessman accused of running forced labor camps in Cambodia where trafficked workers carried out cryptocurrency fraud schemes that netted billions of dollars.The 37-year-old, known as Vincent, founded Prince Holding Group, a multinational conglomerate that authorities say served as a front for “one of Asia’s largest transnational criminal organizations,” according to the US Department of Justice.The Justice Department also filed the largest forfeiture action in its history, seizing approximately 127,271 Bitcoin worth around $15 billion at current prices.”Today’s action represents one of the most significant strikes ever against the global scourge of human trafficking and cyber-enabled financial fraud,” said Attorney General Pam Bondi.Chen allegedly directed operations of forced labor compounds across Cambodia where hundreds of trafficked workers were held in prison-like facilities surrounded by high walls and barbed wire.Under threat of violence, they were forced to execute so-called “pig butchering” scams — cryptocurrency investment schemes that build trust with victims over time before stealing their funds.The schemes targeted victims worldwide, causing billions in losses.Scam centers across Cambodia, Myanmar and the region use fake job ads to attract foreign nationals — many of them Chinese — to purpose-built compounds, where they are forced to carry out online fraud under threat of torture.Since around 2015, Prince Group has operated across more than 30 countries under the guise of legitimate real estate, financial services and consumer businesses, prosecutors said.Chen and top executives allegedly used political influence and bribed officials in multiple countries to protect the operation. Proceeds were laundered in part through the Prince Group’s own gambling and cryptocurrency mining operations.The stolen funds financed luxury purchases including watches, yachts, private jets, vacation homes and a Picasso painting bought at a New York auction house, authorities said.Chen faces up to 40 years in prison if convicted on wire fraud and money laundering conspiracy charges.In coordinated action, British authorities on Tuesday froze 19 London properties worth over £100 million linked to Chen’s network, including a £12 million mansion in North London.The sanctions also target Chen’s associate Qiu Wei Ren, a Chinese national with Cambodian, Cypriot and Hong Kong citizenship.An AFP investigation on Tuesday found that scam centers in neighboring Myanmar were expanding rapidly just months after a crackdown there. China, Thailand and Myanmar forced pro-junta Myanmar militias who protect the centers to promise to shutter the compounds in February, freeing around 7,000 people — most of them Chinese citizens.But the brutal call center-style system is flourishing again in Myanmar, now using Elon Musk’s Starlink satellite system for internet access.

US indicts Cambodian tycoon over $15bn crypto scam empire

US authorities on Tuesday unsealed an indictment against Chen Zhi, a UK-Cambodian businessman accused of running forced labor camps in Cambodia where trafficked workers carried out cryptocurrency fraud schemes that netted billions of dollars.The 37-year-old, known as Vincent, founded Prince Holding Group, a multinational conglomerate that authorities say served as a front for “one of Asia’s largest transnational criminal organizations,” according to the US Department of Justice.The Justice Department also filed the largest forfeiture action in its history, seizing approximately 127,271 Bitcoin worth around $15 billion at current prices.”Today’s action represents one of the most significant strikes ever against the global scourge of human trafficking and cyber-enabled financial fraud,” said Attorney General Pam Bondi.Chen allegedly directed operations of forced labor compounds across Cambodia where hundreds of trafficked workers were held in prison-like facilities surrounded by high walls and barbed wire.Under threat of violence, they were forced to execute so-called “pig butchering” scams — cryptocurrency investment schemes that build trust with victims over time before stealing their funds.The schemes targeted victims worldwide, causing billions in losses.Scam centers across Cambodia, Myanmar and the region use fake job ads to attract foreign nationals — many of them Chinese — to purpose-built compounds, where they are forced to carry out online fraud under threat of torture.Since around 2015, Prince Group has operated across more than 30 countries under the guise of legitimate real estate, financial services and consumer businesses, prosecutors said.Chen and top executives allegedly used political influence and bribed officials in multiple countries to protect the operation. Proceeds were laundered in part through the Prince Group’s own gambling and cryptocurrency mining operations.The stolen funds financed luxury purchases including watches, yachts, private jets, vacation homes and a Picasso painting bought at a New York auction house, authorities said.Chen faces up to 40 years in prison if convicted on wire fraud and money laundering conspiracy charges.In coordinated action, British authorities on Tuesday froze 19 London properties worth over £100 million linked to Chen’s network, including a £12 million mansion in North London.The sanctions also target Chen’s associate Qiu Wei Ren, a Chinese national with Cambodian, Cypriot and Hong Kong citizenship.An AFP investigation on Tuesday found that scam centers in neighboring Myanmar were expanding rapidly just months after a crackdown there. China, Thailand and Myanmar forced pro-junta Myanmar militias who protect the centers to promise to shutter the compounds in February, freeing around 7,000 people — most of them Chinese citizens.But the brutal call center-style system is flourishing again in Myanmar, now using Elon Musk’s Starlink satellite system for internet access.

Military seizes power in Madagascar as president impeachedTue, 14 Oct 2025 17:57:58 GMT

An elite Madagascar military unit said Tuesday it had taken power in the Indian Ocean nation after parliamentarians voted to impeach President Andry Rajoelina following weeks of anti-government protests.There were celebrations in the streets of the capital after the commander of the CAPSAT military unit, which joined the demonstrators at the weekend, announced that it …

Military seizes power in Madagascar as president impeachedTue, 14 Oct 2025 17:57:58 GMT Read More »

Myanmar scam centres booming despite crackdown, using Musk’s Starlink: AFP investigation

Scam centres in Myanmar blamed for swindling billions from victims across the world are expanding fast just months after a crackdown that was supposed to eradicate them, an AFP investigation has found.New buildings have been springing up inside the heavily guarded compounds around Myawaddy on the Thailand-Myanmar border at a dizzying pace, with others festooned with dishes for Elon Musk’s Starlink internet service, satellite images and AFP drone footage show.The revelations come as Britain and the United States imposed sanctions Tuesday on the “masterminds behind industrial-scale scam centres in Southeast Asia”, freezing 19 London properties “linked to a multi-billion-pound network”.They include a mansion worth £12 million (nearly $16 million) on one of London’s most expensive streets and a £100 million office building in the city’s financial district.US prosecutors have also launched an action to seize up to $15 billion in cryptocurrency they said is held by Chinese-born Chen Zhi, the alleged head of a “sprawling cyber-fraud empire” based in Cambodia where workers are trafficked and “confined in prison-like compounds”.Americans are among the top targets of Southeast Asia scammers, the US Treasury Department says, losing an estimated $10 billion last year, up 66 percent in 12 months.The centres have caused misery to millions of people across the world, pushing some victims to suicide, while the families of those who work in them often have to pay to have relatives freed.Experts say most of the centres in Myanmar and Cambodia, notorious for their romance scams and “pig butchering” investment cons, are run by Chinese-led crime syndicates that have switched from gambling into cybercrime. Starlink has gone from nowhere at the time of the Myanmar crackdown in February, when Thailand cut power and internet cables to the scam centres along its border, to becoming the country’s biggest internet provider every day from July 3 until October 1, according to data from the APNIC Asian regional internet registry.The US Congress Joint Economic Committee told AFP it had opened an investigation into Starlink’s involvement with the centres. SpaceX, which owns Starlink, did not reply to AFP requests for comment.China, Thailand and Myanmar forced pro-junta Myanmar militias who protect the centres into promising to “eradicate” the compounds in February. They freed around 7,000 people — most Chinese citizens — from the brutal call centre-style system, which the United Nations says runs on forced labour and human trafficking.Many workers told AFP they were beaten and forced to work long hours by bosses who target victims across the globe with telephone, internet and social media cons.Only weeks after the headline-grabbing releases, building work on several of the centres had started along the Moei River, which forms the frontier with Thailand.AFP analysis of satellite images from Planet Labs PBC found dozens of buildings going up or being altered in the largest of the compounds, KK Park, between March and September.Construction work has also been going on at several of the other 27 suspected scam centres in the Myawaddy cluster, an AFP analysis found, including what the US Treasury called the “notorious” Shwe Kokko centres, north of Myawaddy.- ‘Abhorrent’ -Last month, the US imposed sanctions on nine people connected to Shwe Kokko and the Chinese criminal kingpin She Zhijiang, founder of the multistorey Yatai New City centre there.Senator Maggie Hassan, the leading Democrat on the US Congressional committee, has called on Musk to block the Starlink service to the fraud factories.”While most people have probably noticed the increasing number of scam texts, calls, and emails, they may not know that transnational criminals halfway across the world may be perpetrating these scams by using Starlink internet access,” Hassan said.She wrote to Musk in July demanding answers to 11 questions about Starlink’s role.Erin West, a former California prosecutor who now heads the Operation Shamrock group that campaigns against the centres, said: “It is abhorrent that an American company is enabling this to happen.”While still a cybercrime prosecutor, she warned Starlink in July 2024 that the mostly Chinese crime syndicates that run the centres were using its service, but received no reply.Up to 120,000 people may be being “forced to carry out online scams” in the Myanmar centres, according to a UN report in 2023, with another 100,000 held in Cambodia.South Korea President Lee Jae Myung said Tuesday that he was concerned by the “significant harm” being done by the centres amid the shock over the death of a Korean student who police said was tortured and killed after being kidnapped in Cambodia.Other Koreans have also been abducted. “The numbers are not small, and many of our citizens are deeply concerned about their family members,” Lee said. isk-mjw-sjc-nlc-fg/js

China, EU stand firm on shipping emission deal despite US threats

China, the European Union and several other members of the International Maritime Organization reaffirmed their support on Tuesday for ambitious plans to cut shipping emissions, despite US threats.Initially approved in April, the London-based IMO are set to vote on Friday on formally adopting the Net Zero Framework (NZF), the first global carbon-pricing system.However, Washington’s threat to impose sanctions on those supporting it had cast doubt on the future of the framework, just as the summit where it is due to be adopted got under way.The summit’s first day on Tuesday was marked by friction between members supporting the NZF and those opposing it.The framework would require ships to progressively reduce carbon emissions from 2028, or face financial penalties.Last week, the United States threatened countries who vote in favour of the framework with sanctions, visa restrictions and port levies, calling the proposal a “global carbon tax on the world”.But several countries, including Britain, Brazil, China and the European Union, reaffirmed their commitment during Tuesday’s meeting of the 176-nation IMO.”We believe that reaching a consensus on global implementation (of the framework) is essential,” a representative from China told members.- Oil producers’ opposition -To be adopted, the framework needs the backing of two-thirds of the present and voting IMO members that are parties to the so-called MARPOL anti-pollution convention.The convention has 108 members.A majority of members — 63 states — that voted in favour of the NZF in April are expected to maintain their support on Friday.The plan would charge ships for emissions exceeding a certain threshold, with proceeds used to reward low-emission vessels and support countries vulnerable to climate change.Several major oil producers — Saudi Arabia, Russia and the United Arab Emirates — voted against the measure, and are expected to do so again this week, arguing it would harm the economy and food security.Pacific Island states, which abstained in the initial vote over concerns the proposal was not ambitious enough, are now expected to support it.The United States withdrew from IMO negotiations in April and did not comment on the proposal until last week.US threats could affect “countries more sensitive to US influence and vulnerable to these retaliations”, a European source told AFP.”We remain optimistic about the outcome, but it will probably be tighter than before, with a higher risk of abstention,” the source added.Countries highly dependent on the maritime industry, such as the Philippines and Caribbean islands, would be particularly impacted by US visa restrictions and sanctions.Contacted by AFP, IMO Secretary-General Arsenio Dominguez declined to respond directly to the US statement, maintaining he was “very confident” about the NZF vote.If the global emissions pricing system was adopted, it would become difficult to evade, even for the United States.IMO conventions allow signatories to inspect foreign ships during stopovers and even detain non-compliant vessels.Since returning to power in January, US President Donald Trump has reversed Washington’s course on climate change, denouncing it as a “scam” and encouraging fossil fuel use by deregulation.

China, EU stand firm on shipping emission deal despite US threats

China, the European Union and several other members of the International Maritime Organization reaffirmed their support on Tuesday for ambitious plans to cut shipping emissions, despite US threats.Initially approved in April, the London-based IMO are set to vote on Friday on formally adopting the Net Zero Framework (NZF), the first global carbon-pricing system.However, Washington’s threat to impose sanctions on those supporting it had cast doubt on the future of the framework, just as the summit where it is due to be adopted got under way.The summit’s first day on Tuesday was marked by friction between members supporting the NZF and those opposing it.The framework would require ships to progressively reduce carbon emissions from 2028, or face financial penalties.Last week, the United States threatened countries who vote in favour of the framework with sanctions, visa restrictions and port levies, calling the proposal a “global carbon tax on the world”.But several countries, including Britain, Brazil, China and the European Union, reaffirmed their commitment during Tuesday’s meeting of the 176-nation IMO.”We believe that reaching a consensus on global implementation (of the framework) is essential,” a representative from China told members.- Oil producers’ opposition -To be adopted, the framework needs the backing of two-thirds of the present and voting IMO members that are parties to the so-called MARPOL anti-pollution convention.The convention has 108 members.A majority of members — 63 states — that voted in favour of the NZF in April are expected to maintain their support on Friday.The plan would charge ships for emissions exceeding a certain threshold, with proceeds used to reward low-emission vessels and support countries vulnerable to climate change.Several major oil producers — Saudi Arabia, Russia and the United Arab Emirates — voted against the measure, and are expected to do so again this week, arguing it would harm the economy and food security.Pacific Island states, which abstained in the initial vote over concerns the proposal was not ambitious enough, are now expected to support it.The United States withdrew from IMO negotiations in April and did not comment on the proposal until last week.US threats could affect “countries more sensitive to US influence and vulnerable to these retaliations”, a European source told AFP.”We remain optimistic about the outcome, but it will probably be tighter than before, with a higher risk of abstention,” the source added.Countries highly dependent on the maritime industry, such as the Philippines and Caribbean islands, would be particularly impacted by US visa restrictions and sanctions.Contacted by AFP, IMO Secretary-General Arsenio Dominguez declined to respond directly to the US statement, maintaining he was “very confident” about the NZF vote.If the global emissions pricing system was adopted, it would become difficult to evade, even for the United States.IMO conventions allow signatories to inspect foreign ships during stopovers and even detain non-compliant vessels.Since returning to power in January, US President Donald Trump has reversed Washington’s course on climate change, denouncing it as a “scam” and encouraging fossil fuel use by deregulation.

Madagascar: les militaires prennent le pouvoir après un vote de destitution du président

Le scénario se répète à Madagascar: les militaires ont affirmé mardi “prendre le pouvoir” et ont acté de fait la fin de la présidence du contesté Andry Rajoelina, qui avait accédé une première fois au pouvoir par un coup d’Etat en 2009 dans des circonstances similaires.L’unité militaire qui s’est ralliée au mouvement de contestation généralisée dans cette île particulièrement pauvre de l’océan Indien a fait cette déclaration devant le palais présidentiel du centre d’Antananarivo, juste après un vote de l’Assemblée nationale destituant le chef de l’Etat, présumé avoir quitté le pays.”On va prendre le pouvoir à partir d’aujourd’hui et on dissout le Sénat et la Haute cour constitutionnelle. L’Assemblée nationale, on la laisse continuer à travailler”, a indiqué au micro de l’AFPTV le colonel Michael Randrianirina devant le palais présidentiel, au centre de la capitale malgache.Scènes de fête et concerts ont suivi cette annonce sur la place du 13-mai. Drapeaux malgaches et chants de célébration ont envahi ce lieu symbolique, baptisé en hommage aux personnes tuées lors d’un soulèvement populaire en 1972 qui a conduit au départ du premier président.La Haute cour constitutionnelle, ayant constaté la “vacance” du poste de président, “invite” dans un communiqué “l’autorité militaire compétente incarnée par le colonel Randrianirina Michaël, à exercer les fonctions de chef de l’Etat”.Contesté dans la rue et retranché dans un lieu inconnu, Andry Rajoelina, qui avait dissous un peu plus tôt mardi l’Assemblée, a dénoncé à propos du vote le destituant une “réunion (…) dépourvue de toute base légale” puis une “tentative de coup d’Etat” des militaires. “Le président demeure pleinement en fonction”, assure-t-il.Exfiltré par un avion militaire français dimanche d’après la radio française RFI, Andry Rajoelina avait été désigné président de transition par les militaires après un soulèvement populaire en 2009.Après s’être mis en retrait en 2014, il avait été élu président en 2018, puis réélu en 2023 pour un mandat de cinq ans lors d’un scrutin boycotté par l’opposition.”On va mettre en place un comité composé d’officiers venant de l’armée, de la gendarmerie, de la police nationale. Peut-être qu’il y aura des hauts conseillers civils là-dedans. C’est ce comité qui va assurer le travail de la présidence. En même temps, après quelques jours, on va mettre en place un gouvernement civil”, a assuré le colonel Randrianirina.En attendant, Jouannah Rasoarimanana, 24 ans savoure une “victoire” pour la jeunesse éduquée de Madagascar ayant allumé l’étincelle de la contestation. “Je suis vraiment très heureuse, en tant que jeune, ici, à Madagascar, on est libre maintenant. On a obtenu la victoire”, se réjouit cette comptable.Comme très souvent depuis le 25 septembre, des milliers de manifestants sont encore descendus dans les rues d’Antananarivo. Des jeunes mobilisés par le collectif Gen Z, rejoints par des fonctionnaires appelés à la grève par plusieurs syndicats et des protestataires de toutes générations.- Constitution suspendue -La Constitution est aussi suspendue, a annoncé le colonel Randrianirina, à la tête de la Capsat. Cette unité militaire, qui avait joué un rôle majeur dans le coup d’État de 2009, a renversé le rapport de force en se joignant samedi aux manifestations qui ont commencé le 25 septembre.Ses officiers ont appelé les forces de sécurité à “refuser de tirer” sur les manifestants, avant de les rejoindre dans le centre de la capitale.La plupart des forces armées leur ont emboîté le pas depuis et ont changé de commandement, y compris la gendarmerie, auparavant en première ligne de la répression des manifestations. Au moins 22 personnes ont été tuées au début de celles-ci et plus d’une centaine blessées, d’après un bilan des Nations unies.Au total, 130 des 163 députés, soit plus de la majorité des deux tiers requise, ont voté mardi en faveur de la destitution d’Andry Rajoelina. Elle a été avalisée par la Haute cour constitutionnelle, dont la dissolution a été annoncée mardi par le colonel Randrianirina.Madagascar, île à la population très pauvre, a une longue histoire de soulèvements populaires suivis par la mise en place de gouvernements militaires de transition.”On essaie de voir exactement ce qui va se passer une fois la poussière retombée. Évidemment, s’il y a un coup d’État en cours, on s’y opposera”, a réagi Farhan Haq, porte-parole du secrétaire général de l’ONU.Le président en fuite a par ailleurs dit mardi enchaîner “plusieurs visites officielles prévues chez les pays amis, membres de la SADC”, l’organisation de coopération d’Afrique australe.Au moins 80% des 32 millions d’habitants de Madagascar vivent avec moins de 15.000 ariary par jour (2,80 euros), le seuil de pauvreté fixé par la Banque mondiale.

Theatrics trumped all at Trump’s Gaza summit

US President Donald Trump’s lightning summit in Egypt, meant to cement a ceasefire in Gaza, was more a celebration of one man’s newfound peacemaker persona than a high-level political negotiation, according to diplomats.Trump and the leaders of Egypt, Qatar and Turkey — guarantors to the Israel-Hamas deal — signed a document on Monday that one diplomat called “more of a vision statement than anything”.In devastated Gaza, the ceasefire is mostly holding, but most of the details of Trump’s 20-point peace plan have yet to be thrashed out.These include significant possible stumbling blocks, like Hamas’s disarmament, the Palestinian territory’s future governance and the role of a supervisory so-called “Board of Peace”.While Trump held what amounted to a victory rally in the Israeli Knesset on Monday, more than two dozen world leaders — including UK Prime Minister Keir Starmer, German Chancellor Friedrich Merz, French President Emmanuel Macron and UN chief Antonio Guterres — were kept waiting all day in the Egyptian resort town of Sharm el-Sheikh.- Red carpet shuffle -In a meeting held ahead of his arrival, they intended to press him on aid and governance, according to a participant.But when he arrived, four hours behind schedule, they lined up in a queue that snaked all the way around the room to greet the man who claims he can “bring peace to the Middle East”.One after the other, they stepped onto a red carpet to shake hands with a beaming Trump, over a giant sign that read “PEACE 2025″.”It was a very bizarre day… Just the show, the speech with all these leaders lined up, it was crazy,” one diplomat told AFP, requesting anonymity in order to speak freely about diplomatic events.”I’ve never seen anything like it, and I don’t think many people have.”As Trump and Sisi delivered addresses, most of the leaders stood dutifully behind them in an unorthodox configuration that even Trump questioned.Some refused to take part, with France’s Macron, Jordan’s King Abdullah II and Palestinian president Mahmud Abbas remaining seated.”He’s not going to stand behind a leader as he speaks,” said a French diplomat travelling with Macron, who also accompanied Abbas on stage for a reportedly unplanned handshake, which ended up being one of Trump’s longest.- The chosen one -Egypt — whose leaders have taken every opportunity to praise Trump as the “only one in the world capable of achieving peace” — pulled out all the stops.Sharm el-Sheikh was covered in billboards featuring Trump and Sisi’s smiling faces alongside slogans of peace.As Air Force One entered Egyptian airspace, it was accompanied by Egypt’s US-made F16 fighter jets, which Trump then quipped that Cairo had “paid a lot of money for” but “got a good deal”.Sisi announced Trump had been awarded the Order of the Nile, Egypt’s highest civilian honour, hours after he received the equivalent medal in Israel.One Egyptian source said Monday’s document was meant to “simply commemorate peace efforts”, for which Cairo credits Trump.But the former reality TV star’s penchant for theatrics nearly derailed even that.In a surprise three-way call while he was in Israel, Trump pushed Sisi into inviting Israeli Prime Minister Benjamin Netanyahu to the summit — sandbagging the leaders waiting in Egypt, some of whose governments have no relations with Israel.According to a diplomatic source, Sisi only agreed to the call in order to “be the star pupil”.Diplomats said several states bristled at the idea of rubbing shoulders with the Israeli leader, who is wanted by the ICC on suspicion of war crimes.AFP journalists witnessed Turkish president Recep Tayyip Erdogan’s plane circle Sharm el-Sheikh twice before it landed. Turkish media reported Erdogan refused to land after he learnt of the invite.By the time Netanyahu had rushed out a statement saying he would not attend because of a Jewish religious holiday and Trump had landed, several leaders had run out of time.Faced with the risk of having to rush to their planes without a single soundbite, the leaders of Germany, Italy and the Netherlands were forced to walk out of their closed-off meeting area to meet the sequestered press.”It was a ridiculous day,” another diplomat said in the aftermath, echoing an incredulity that was shared by every diplomat to whom AFP spoke.”But ultimately we’re better off today than where we were yesterday. The question is if he’s going to keep this up going forward, and keep that firm line with Netanyahu.”