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The Singapore police have seized assets worth over 150 million Singapore dollars from the "BCH Group" led by Chen Zhi.
On October 31, according to Caixin reports, the Cambodian Taizigroup is suspected of operating a large multinational fraud gang. Following the announcement by the United States and the United Kingdom in mid-October to prosecute the head of the “Taizigroup”, Chen Zhi, and seize his Bitcoin holdings valued at approximately $15 billion, the Singapore police today announced that they have launched law enforcement actions against Chen Zhi and his accomplices of the Cambodian telecom fraud group “Taizigroup”, confiscating assets worth over 150 million Singapore dollars (approximately 800 million RMB). In the law enforcement action, the Singapore police issued disposal prohibitions on a total of 6 properties and various financial assets under Chen Zhi and his accomplices' names, including bank accounts, securities accounts, and cash. The Singapore police stated that Chen Zhi and his accomplices are currently not in Singapore, and the investigation is ongoing.