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Story summary
- Hong Kong police froze HK$2.75 billion (US$353 million) in assets tied to Chinese-Cambodian businessman Chen Zhi for alleged telecoms fraud and money laundering, as regulators prompted auditors and directors to resign from his firms.
- In October, the U.S. Treasury designated Chen Zhi and Prince Group as a Transnational Criminal Organisation, accusing them of scams, trafficking, and illegal gambling.
- Geotech Holdings says no significant impact on operations, though its auditor resigned.
