Cambodian scam tycoon was extradited to China.

Cambodia arrested and extradited Prince Group chairman Chen Zhi to China at China’s request, and the U.S. Justice Department had earlier charged him with wire fraud and money laundering and said it seized bitcoin it identified as proceeds from scams.

Chen Zhi, chairman of Cambodia-based Prince Group, was arrested in Cambodia and extradited to China, the Cambodian interior ministry said. The ministry said the action was taken at the request of Chinese authorities as part of cooperation on transnational crime. The U.S. Justice Department had charged Chen in October with wire fraud and money laundering and announced the seizure of bitcoin it described as proceeds from scams. The U.S. Treasury also announced sanctions on Chen, other Prince Group executives and many companies tied to the conglomerate. What officials reported: - Cambodia arrested Chen Zhi and extradited him to China at China’s request, according to the interior ministry. - The U.S. Justice Department charged Chen in October with wire fraud and money laundering and said it seized nearly $12 billion in bitcoin it identified as proceeds from scams. - The U.S. Treasury imposed sanctions on Chen, other Prince Group executives and dozens of companies tied to the conglomerate, while Prince Group has described the allegations as baseless. - Chinese authorities have investigated the company and lower-level employees have been convicted in Chinese courts, according to reporting. Summary: Chen has been extradited to China following his arrest in Cambodia and prior U.S. charges and asset actions. Undetermined at this time.