The Department of Justice has filed a civil forfeiture complaint for $15 billion for a pig-butchering scam, as per an official press release.
The statement has stated that it is the largest seizure in the department’s history, and comes with a crackdown on one of the largest pig-butchering scams.
A pig butchering scam is a long-drawn-out exchange between a scammer and a victim in which a relationship is developed, and the victim is drained of his/her money through fraudulent investment schemes.
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FBI director Kash Patel has said this is one of the largest financial fraud takedowns in U.S. history.
The individual credited as the mastermind behind this scheme is Chen Zhi, a Cambodian National who is the founder and Chairman of Prince Holding Group. Zhi has been accused of setting up worker camps in Cambodia, in which people have been exploited and physically abused.
If convicted, Zhi will face up to 40 years in prison.
The update follows another large seizure of 61,000 bitcoin by the U.K. government
