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Chairman of Prince Group Indicted for Operating Cambodian Forced Labor Scam Compounds Engaged in Cryptocurrency Fraud Schemes
Department of Justice ^ | 10/14/2025 | DOG

Posted on 10/14/2025 1:24:31 PM PDT by Vermont Lt

The U.S. Attorney’s Office for the Eastern District of New York and the Justice Department’s National Security Division also filed today a civil forfeiture complaint against approximately 127,271 Bitcoin, currently worth approximately $15 billion, that are proceeds and instrumentalities of the defendant’s fraud and money laundering schemes, and were previously stored in unhosted cryptocurrency wallets whose private keys the defendant had in his possession. Those funds (the Defendant Cryptocurrency) are presently in the custody of the U.S. government. The complaint is the largest forfeiture action in the history of the Department of Justice.

(Excerpt) Read more at justice.gov ...


TOPICS: Business/Economy; Crime/Corruption
KEYWORDS: crypto; cryptotruth; fraud
Today the DOJ almost doubled the US Bitcoin Strategic Reserve. With the seizure of 127,217 BTC, the amount held in the BSR is about 317,000 BTC. (About $35B)
1 posted on 10/14/2025 1:24:31 PM PDT by Vermont Lt
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To: Vermont Lt

Plus hopefully this cuts down on spam scam calls a bit.


2 posted on 10/14/2025 1:25:37 PM PDT by EnderWiggin1970
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To: Vermont Lt
Today the DOJ almost doubled the US Bitcoin Strategic Reserve. With the seizure of 127,217 BTC, the amount held in the BSR is about 317,000 BTC. (About $35B)

Shouldn't that money be returned to the victims? Otherwise it's just one thief stealing from another.
3 posted on 10/14/2025 1:53:05 PM PDT by AnotherUnixGeek
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To: AnotherUnixGeek

Good luck finding the victims. This stuff was in Cambodia, and I am sure the paths of the bitcoins were stirred up and mixed up so much you would never be able to trace it back to the original holder.


4 posted on 10/14/2025 2:11:23 PM PDT by Vermont Lt
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