US Sanctions 45 More Targets Tied to Alleged Crypto Scam Empire Prince Group
Summary
The U.S. Treasury sanctioned four people and 41 entities accused of helping Cambodia’s Prince Group conceal assets and evade earlier sanctions tied to scam compounds that use trafficked workers to run crypto investment and romance frauds. Targets include companies and associates linked to Prince Group executives, as well as a separate Malaysian-led scam network accused of defrauding Americans of more than $400,000. The action was coordinated with U.S. law enforcement and overseas authorities. The U.S. is also seeking forfeiture of about $14 billion in Bitcoin allegedly tied to the group. Prince Group denies the allegations.
