Thai and Singaporean authorities are investigating a real estate group based in Cambodia after the US and UK imposed sanctions on Group Chairman Chen Zhi for allegations of fraud and money laundering.
Surapol Prembutr - leader of the Thai Cyber Crime Investigation Agency - said that Thai authorities will work with US partners to review the asset seizure process and legal procedures related to Prince Group.
Meanwhile, Singapore police are investigating the case and contacting officials in other countries, Singapore Police said in a statement on October 18.
Chen Zhi was charged by the US with running a major online fraud empire, leading to the confiscation of about $15 billion in Bitcoin on October 14.
In the UK, the government said 19 properties related to Chen Zhi have been frozen, including a $134 million office building and a $15.2 million villa in northwest London.
Chen Zhi and his colleagues participated in establishing a family asset management office in Singapore in 2018, and the office is said to have received incentives from the financial management agency.
The Singapore government has previously said it is reviewing whether there are any violations involving the office.
The allegations against Chen Zhi's company have prompted authorities and businesses in Singapore to reconsider Prince Group's financial relationships with Singapore.
Thai media said that investigators in this country will try to determine whether there is any confiscated property related to the crime in Thailand.
If the links are established, the Thai government will seek to return and seize the assets through diplomatic coordination and compliance with international legal procedures.
The Thai Ministry of Justice can prosecute individuals and organizations for online fraud and money laundering.
The US accused Prince Group of operating Cambodia-based fraudulent facilities through the use of forced labor under Chen Zhi's direction.
