Hong Kong police have frozen assets worth HKD 2.75 billion (approximately USD 3.5 billion) in connection with an alleged international telecom fraud and money laundering syndicate. The assets, believed to be proceeds of crime, include cash, stocks, and funds. While no arrests have been made, the investigation is ongoing. The group is reportedly linked to Chen Zhi, founder of Cambodia's Prince Group, although no specific names have been officially disclosed.