Episode Details

Unveiling a Web of Deceit: A Proposed Crypto Resort in Timor-Leste Linked to Sanctioned Scam Empire

A joint investigation by the Guardian and OCCRP reveals a shady connection between a proposed luxury crypto resort in Timor-Leste and a sanctioned scam empire. The AB Digital Technology Resort, marketed as a blockchain haven near Dili airport, remains vacant on a barren plot. Key figures in the project are tied to Cambodias Prince Group, sanctioned last October for massive pig-butchering frauds involving human trafficking and slavery.

The Prince Group, led by indicted founder Chen Zhi, allegedly operated cyber scam compounds across southeast Asia, stealing billions through fake crypto investments. Three resort insiders, Yang Jian, Yang Yanming, and Shih Ting-yu, were also sanctioned for a separate Prince-linked project in Palau and were subsequently removed from the Timor-Leste venture.

Timor-Lestes president José Ramos-Horta granted a diplomatic passport to resort frontman Lin Xiaofan, aka Frank, who denies any criminal links and claims the resort is still on track. However, a top minister warns the impoverished island nation, fresh from independence struggles, risks becoming a crime haven amid new online gambling laws.

The resorts website promos disappeared, quotes from former leaders like Irelands Bertie Ahern were removed, and ABs complex web of foundations and blockchains was clarified following the inquiry. Ramos-Horta now expresses doubts, stating no real plans emerged and he would revoke the passport if Prince ties are confirmed.

Southeast Asias scam surge targets vulnerable spots like Timor-Leste, but leaders vow to resist, safeguarding sovereignty from foreign fraudsters one empty beach at a time.

Support the show:
Get a discount at https://solipillow.com/discount/dnn.

Advertise on DNN:
advertise@thednn.ai

This is an automated, high-level news summary based on public reporting.
Report issues to feedback@thednn.ai.

View sources & latest updates:
https://sources.thednn.ai/fac2a2c072cba1bd