Federal prosecutors unsealed an indictment accusing the chairman of Prince Holding Group of orchestrating a large ‘pig‑butchering’ crypto investment fraud run from compound sites in Southeast Asia, and authorities seized roughly 127,271 bitcoins. The operation allegedly involved coercive conditions at scam compounds, huge daily takings, and coordinated sanctions and enforcement by U.S. and U.K. authorities.

In November 2025 U.S. prosecutors unsealed an indictment charging the chairman of Prince Holding Group with leading an extensive ‘pig‑butchering’ cryptocurrency investment fraud scheme. The indictment and accompanying enforcement actions alleged that the organization ran large‑scale romance/investment fraud operations out of compound facilities in Southeast Asia, where victims were lured into fake investment relationships and coerced to send funds. Authorities reported the seizure of approximately 127,271 bitcoins—assets worth multiple billions at the time of seizure—after coordinated investigative work that traced flows through exchanges and custody points. Reporting also detailed alleged forced‑labor conditions used to operate the scam compounds, daily takings measured in the hundreds of thousands to millions, and parallel sanctions from U.S. and U.K. governments targeting principals and entities tied to the scheme. The unsealing underscores growing law‑enforcement capability to follow crypto proceeds and use asset seizures alongside criminal charges and sanctions to disrupt transnational fintech fraud networks. Victims and partner jurisdictions are being coordinated with for repatriation and further investigative steps.