U.S. Treasury Sanctions 4 Individuals and 41 Entities Linked to Taizi Group

According to ME News, on November 6 (UTC+8), the U.S. Department of the Treasury announced new sanctions against four individuals and 41 entities associated with the Taizi Group transnational criminal organization. The sanctioned individuals include Qiu Yong, Zhao Mengyao, He Yujing, and Visal Pang. Qiu Yong is alleged to have controlled multiple companies in the British Virgin Islands and Hong Kong on behalf of the Taizi Group; Zhao Mengyao serves as Qiu Yong’s personal assistant; He Yujing is the wife of Chen Bo, a previously sanctioned Taizi Group executive, who transferred his Tokyo mansion to her name; and Visal Pang controls 11 companies in Cambodia.
The U.S. Department of the Treasury stated that this sanctions action aims to target the Taizi Group’s efforts to conceal assets and evade previous sanctions through offshore companies, nominee arrangements, and affiliated entities. Additionally, the U.S. sanctioned Malaysian national Chui Kok Wa, who is suspected of organizing a digital asset scam in Madagascar, with his network allegedly defrauding U.S. victims of over $400,000. (Source: Foresight News)