PHNOM PENH: Before he fled the country, Chinese online scam kingpin Zhang Jian Qiang, known by the alias “The Bald”, transferred more than US$250 million in cryptocurrency out of Cambodia, according to an Anti-Corruption Unit (ACU) report.
The ACU noted that the funds were transferred out of the Kingdom almost immediately as they were collected, with only a small portion retained to facilitate scam operations.
ACU spokesman Soy Chan Vicheth said the scam kingpin, also known as Chai Youyuan, transferred cryptocurrency through an OKX Hot Wallet, amounting to 250,605,000 USDT, equivalent to US$250.605 million, to his senior associates overseas.
About 90 per cent of the more than US$250 million in proceeds from the scams was transferred overseas almost immediately, with the remainder used to pay for ongoing operations, including alleged bribe payments to local authorities, explained Chan Vicheth.
The money remaining in Cambodia amounted to only tens of thousands of dollars, which would be subject to seizure if located.
According to the ACU, Zhang Jian Qiang had more than 10 cryptocurrency accounts. The ACU found that some of these accounts were used to make payments to associates in Cambodia, including immigration police officer Phe Phatpheng and Prek Ksach commune chief Ream Rom in Koh Kong province.
The domestic payments were made through Lay Sokong, owner of the Sok Kong 148 money exchange service in Borey Peng Huoth Boeung Snor, in Phnom Penh’s Chbar Ampov district. According to Chan Vicheth, a case against Sokong was brought to court last week.
Sokong facilitated cash transfers to commune chief Ream Rom, who allowed a 42-strong scam syndicate to operate on his property, as well as district deputy police chief Chin Sopheap, who also colluded with the group, and immigration officer Phe Phatpheng, who allowed scammers to enter the Kingdom through Techo International Airport.
Zhang also made payments to two other associates, Chea Veasna and Chea Soth, also known as Meng.
While Zhang remains at large, all of his known Cambodian associates are in custody. They have been charged with online fraud, conspiracy and money laundering. - The Phnom Penh Post/ANN
