Hong Kong High Court Approves Freezing of HK$89.3 Billion in Assets of Tsz Chan and Others

According to ME News, on May 13 (UTC+8), the Hong Kong High Court granted the Department of Justice’s application to impose freezing orders against Chen Zhi and 41 other individuals and entities, freezing assets totaling HK$8.93 billion, including bank deposits, real estate, and stocks. Chen Zhi alone holds assets exceeding HK$6.36 billion, comprising HK$2.2 billion in bank deposits, a full commercial building at 68 Kimberley Road, Tsim Sha Tsui, valued at HK$3 billion, and a villa at Mount Nicholson on Victoria Peak, valued at HK$1 billion. Zhou Yun, who assisted in managing these assets, holds total assets exceeding HK$2 billion, including personal accounts holding HK$15.92 million in Hong Kong dollars, euros, and Bitcoin. Additionally, Hu Xiaowei and Li Tian, associated with the Taizi Group, have assets of approximately HK$400 million and HK$172 million, respectively, frozen by the court. The court will reconvene on August 3 to determine whether to extend the freezing orders. (Source: BlockBeats)