Subject: Bitcoin worth $14bn seized in US-UK
https://www.bbc.com/news/artic...

The US government has seized more than $14bn (£10.5bn) in bitcoin and charged the founder of a Cambodian business empire, the Prince Group, with allegedly masterminding a massive cryptocurrency scam, which involved forced labour camps.

UK and Cambodian national Chen Zhi was charged on Tuesday in New York for allegedly engaging in a wire-fraud conspiracy and money laundering scheme.

Mr Chen's businesses were also sanctioned by the US and the UK as part of a joint operation. The UK government says it has frozen assets owned by his network, including 19 properties in London - one of which is worth nearly £100m ($133m).

Unwitting victims were contacted online and convinced to transfer cryptocurrency based on false promises that the funds would be invested and generate profits, the DOJ said.

Prosecutors alleged that the company, under Mr Chen's direction, built and operated at least ten scam compounds throughout Cambodia, according to court documents seen by the BBC.

Jeff