Britain and the United States have imposed sweeping new sanctions on a global human trafficking and fraud network accused of luring victims into forced labour and massive online scams across Southeast Asia — with ties extending to the British Virgin Islands and London’s luxury property market.

The sanctions, announced on Monday, target six individuals and six companies under Britain’s Global Human Rights Regime, including Cambodian-based Prince Global Group Ltd, Jin Bei Group Co Ltd, Golden Fortune Resorts World Co Ltd, and Byex Exchange Co Ltd.

According to the British Foreign Office, the network “operates illegal scam centres, which trick victims across the world out of substantial sums of money and torture their trafficked workers”.

Yvette Cooper, the British Foreign Secretary, said: “The masterminds behind these horrific scam centres are ruining the lives of vulnerable people and buying up London homes to store their money. Together with our US allies, we are taking decisive action to combat the growing transnational threat posed by this network — upholding human rights, protecting British nationals and keeping dirty money off our streets.”

At the centre of the sanctions is Chen Zhi, the chairman of the Prince Group, a multibillion-dollar conglomerate accused of building and operating scam compounds disguised as casinos and “technology parks” in Cambodia. The UK froze more than £100 million (about $134 million) in assets linked to Mr Chen and his associates, including a £12 million mansion on Avenue Road in North London, a £100 million office building on Fenchurch Street, and 17 flats across South London.

The British Government said Mr Chen and his network “incorporated their businesses in the British Virgin Islands”, where the companies were allegedly used to launder proceeds from forced labour and fraudulent cryptocurrency investments.

The crackdown follows an investigation into scam compounds across Cambodia and Myanmar, where trafficked workers are forced under threat of torture to conduct online “pig butchering” scams — elaborate schemes that use fake romantic relationships to defraud victims worldwide.

Simultaneously in the US, prosecutors unsealed an indictment in federal court in Brooklyn charging Mr Chen with wire fraud conspiracy and money laundering conspiracy for allegedly trafficking hundreds of people into forced-labour scam compounds across Cambodia, controlling them with threats of violence while stealing billions from victims worldwide. The US Department of Justice also filed a civil forfeiture complaint for about 127,000 bitcoin — worth roughly $15 billion — linked to the operation, marking the largest forfeiture action in the department’s history.

Mr Chen remains at large.

In response, the Cambodian Government said it hoped the US and Britain had “sufficient evidence” to justify their sanctions against Prince Group and its chairman, Mr Chen.

Touch Sokhak, a spokesman for the country’s Interior Ministry, told the Associated Press that the conglomerate “has met all legal requirements to operate in Cambodia and has been treated no differently than other major companies investing in the country”. He added that Cambodia would co-operate if a formal request is made “backed by evidence”.

Mr Sokhak emphasised: “We do not protect individuals who violate the law”, but noted that the Cambodian Government itself did not accuse Prince Group or Mr Chen of wrongdoing.

Lord Hanson, Britain’s Fraud Minister, said the co-ordinated action “proves our determination to stop those who profit from this activity, hold offenders accountable and keep dirty money out of the UK”.

Bermuda entities are reminded that sanctions apply globally and that any financial ties to the listed companies or individuals must be reported without delay.

• For the complete list of all sanctioned individuals and entities, see Related Media

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