Thai authorities are seeking to confiscate a further 115 million baht in assets allegedly connected to Chinese-Cambodian businessman Chen Zhi, who is awaiting trial in China on multiple criminal charges.
The Anti-Money Laundering Office (Amlo) announced on Thursday that its transaction committee had approved the seizure of 431 additional assets. These reportedly include cash, gold jewellery, land and buildings, as well as digital assets.
Amlo previously seized assets worth approximately 345 million baht linked to Chen, with their forfeiture currently under consideration by the Civil Court. The latest action brings the total value of assets seized in Thailand to around 460 million baht.
Chen, 38, founded Prince Group, a Cambodian conglomerate whose business interests spanned financial services, property and other sectors across more than 30 countries.
Authorities in China and several other jurisdictions have accused the group of involvement in an extensive online fraud network.
The United States has imposed sanctions on the conglomerate and accused Chen of leading transnational criminal organisations. He faces allegations of orchestrating scam operations, committing fraud and laundering criminal proceeds.
Cambodian authorities extradited Chen to China in January. Governments in several jurisdictions have also moved against assets allegedly connected to him, including property and other holdings valued at HK$9 billion that were seized in Hong Kong several months ago.
Chinese prosecutors added an intentional injury charge to the case in late July, further expanding the list of allegations against him. Authorities have not announced when his trial will begin.
Under Chinese law, intentional assault resulting in death or serious injury through particularly cruel means can carry a minimum prison sentence of 10 years. The most severe cases may be punishable by death.
