Chen Zhi, founder of Cambodia's Prince Group, formally arrested six months after being repatriated to China

Odaily Odaily News: Six months after being repatriated to China, Chen Zhi, founder of Cambodia's Prince Group, has been formally arrested. According to reports, Chen Zhi was officially approved for arrest on July 6. Compared to the charges at the time of his repatriation, the charge of concealing and disguising criminal proceeds has been dropped, while charges of copyright infringement and intentional injury have been added. Over the years, Chen Zhi built a global telecom fraud network centered around the "Jinbei Park," earning millions of dollars daily with his ducal title, amassing a fortune worth hundreds of billions of dollars. The Bitcoin confiscated by the United States alone was valued at $15 billion (approximately 103.5 billion RMB). According to a notice from the Ministry of Public Security in January this year, the Chen Zhi criminal syndicate is suspected of multiple crimes, including operating casinos, fraud, illegal business operations, and concealing and disguising criminal proceeds. (Caixin)