A Hong Kong court orders the freezing of properties and other assets worth more than HK$9 billion (about US$1.15 billion, or 37 billion baht) linked to detained Chinese-born Cambodian businessman Chen Zhi and associated companies and individuals, according to reports. The High Court issues the restriction after an application by Hong Kong’s Department of Justice. The reports say the order is made earlier this month and targets assets and properties connected to Chen Zhi. Chen Zhi is detained, and the Department of Justice accuses him of running a sprawling online operation, though the available summaries do not detail further allegations. The freeze applies to both direct holdings and assets held through or connected to entities and people identified as tied to him. The court action is reported to involve restrictions on property and financial interests, effectively limiting access or disposal pending the underlying legal process. The two outlets’ accounts are consistent on the size of the assets, the court involved, the parties affected, and that the move follows a Department of Justice application.
Hong Kong court orders freeze of HK$9 billion assets linked to Chen Zhi
A Hong Kong court orders the freezing of properties and other assets worth more than HK$9 billion (about US$1.15 billion, or 37 billion baht) linked to detained Chinese-born Cambodian businessman Chen...
- A Hong Kong High Court orders a freeze of assets and properties tied to detained businessman Chen Zhi.
- The frozen assets are worth more than HK$9 billion (about US$1.15 billion).
- The order covers assets held by Chen Zhi and associated companies and individuals.
- The freeze is issued following an application by Hong Kong’s Department of Justice.
- Chen Zhi is accused of running a sprawling online operation, according to the reports.
A Hong Kong court has ordered the freezing of properties and assets worth more than HK$9 billion (37 billion baht) held by detained Chinese-born Cambodian businessman Chen Zhi and companies and individuals tied to him, the South China Morning Post has learned.
3 months agoA Hong Kong court has ordered the freezing of properties and assets worth more than HK$9 billion (US$1.15 billion) held by detained Chinese-born Cambodian businessman Chen Zhi and his associated companies and individuals, the South China Morning Post has learned. A source told the SCMP on Thursday that the High Court had ordered a restriction on such properties earlier this month following an application from the Department of Justice involving Chen, who is accused of running a sprawling online...
3 months ago
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