Joint Provisional Liquidators appointed over 30 British Virgin Islands entities controlled by arrested Cambodian tycoon Chen Zhi have confirmed that victims of telecom fraud and online gambling from China may file claims in the collective insolvency proceedings. Eligibility to submit claims is not restricted by nationality or jurisdiction under BVI insolvency law, opening a path for cross-border recovery following Chen Zhi's capture.
The liquidation list includes 30 BVI companies—two more than the 28 named on the U.S. Treasury sanctions list—including Amber Hill Ventures Limited and Lateral Bridge Global Limited, which appear in U.S. judicial proceedings as money laundering vehicles with no practical purpose beyond facilitating illicit flows. Prosecutors allege that over 90,000 of the more than 120,000 bitcoins seized by the United States passed through AHV, LBG, and Cayman-registered Future Technology Investment. AHV chairman Fan Yang and LBG chairman Minyi Tang are identified in the U.S. indictment as "Co-conspirator 6" and "Co-conspirator 7," respectively.
No claims filing or distribution process has yet been established. If the matter enters formal liquidation and sufficient assets remain, liquidators will adjudicate claims and distribute proceeds in accordance with BVI insolvency law.
Chinese Victims May File Claims in Prince Group BVI Liquidation as 90,000+ BTC Once Passed Through Affiliated Entities
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
