Alleged Member of Cambodian Scam Network Invests in Luxury Properties
Zhu Zhongbiao, wanted in China for money laundering charges, has been sanctioned by the U.K. and U.S. for his alleged role in a multi-billion online scam network based in Cambodia.
An executive in one of Asia's largest crime organizations, Zhu purchased at least 29 luxury properties in Dubai, while his wife bought five luxury apartments in London, according to real estate data.
The U.S. Treasury Department and the U.K.'s Foreign, Commonwealth, and Development Office announced sanctions against Zhu on October 14.
- Zhu is accused of being part of the "Prince Group Transnational Crime Organization," a alleged multi-billion scam and money laundering empire.
- The U.K. and U.S. joint action targets this organization in their largest ever sanctions package.
Author's summary: Zhu Zhongbiao sanctioned for alleged role in scam network.
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