#asset-confiscation

#asset-confiscation

Chinese-born tycoon Chen Zhi, who was indicted by the US on fraud and money-laundering charges for running a multibillion-dollar online scam network from Cambodia, has been arrested there and extradited to China, Phnom Penh said. Chen allegedly directed operations of forced labour compounds across Cambodia, where trafficked workers were held in prison-like facilities surrounded by high walls and barbed wire, according to US prosecutors.

Patel masterminded a gang that was convicted in 2023 of one of the UK's biggest VAT tax frauds in HMRC's history. In a sequence of trades known as carousel fraud, he moved goods between different companies, creating false export and import records that he used to claim back large sums from the tax authorities. Soon after the fraud was uncovered, Patel absconded to Dubai, where it is understood he has been ever since.