Chen Zhi, 37, could be sentenced to a maximum of 40 years in prison due to his role in the Prince Group fraud. The US Department of Justice Attorney Joseph Nocella Jr. Highlighted the serious implications of these fraudulent activities.
The Prince Group’s fraudulent schemes have led to tens of billions in global losses, with at least 250 victims in the US. Significant amounts of the fraudulently obtained funds remain in cryptocurrencies, while some have been converted to traditional currency.
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