Alleged Member of 'Notorious' Cambodian Scam Network Bought Luxury Dubai Properties
Zhu Zhongbiao, already wanted in China on money laundering charges, has been sanctioned by the U.K. in a joint action targeting a multi-billion online scam network based in Cambodia.
An executive allegedly involved in one of Asia's biggest crime organizations purchased at least 29 prestige properties in Dubai, while his wife bought five luxury apartments in London, according to real estate data.
The Treasury accused Zhu of being part of an alleged multi-billion scam and money laundering empire called the "Prince Group Transnational Crime Organization."
Zhu was targeted in a sweeping sanctions package announced by the U.S. Treasury Department and the U.K's Foreign, Commonwealth, and Development Office on October 14.
- U.S. sanctions target the "Prince Group Transnational Crime Organization"
- U.K. sanctions part of largest ever joint action
- Zhu Zhongbiao allegedly involved in multi-billion scam and money laundering empire
Author's summary: Notorious scam network member sanctioned.
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