Prosecutors in Taiwan, Hong Kong, and Singapore have seized hundreds of millions in assets linked to Cheng Gyi, a Cambodian businessman accused by U.S. authorities of leading a global fraud syndicate. Charges against Cheng include wire fraud conspiracy and money laundering, with a significant seizure of about $14 billion in Bitcoin. His network, operating across multiple countries, is reported to defraud global victims of tens of billions yearly through scams.
Investigations have led to substantial asset seizures, with Singapore confiscating over $114 million, Taiwan seizing assets worth $150 million—including luxury cars and multiple apartments—and Hong Kong seizing HK$2.75 billion in funds. British authorities also seized high-value properties in London. Cheng, a prominent figure in Cambodia, allegedly profited largely from fraud, including a scam boasting daily earnings of $30 million. He has ties to high-level officials, raising questions about his influence despite the serious allegations.
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