Timor-Leste parliament questions president over proposed resort’s links to ‘scam’ empire
Summary
Timor-Leste’s parliament is questioning President José Ramos-Horta about a proposed cryptocurrency resort linked to a Chinese businessman who was given a diplomatic passport. The resort has ties to Prince Group, a Cambodian conglomerate accused by US authorities of running large-scale scams involving fraud and money laundering.Key Facts
- Opposition in Timor-Leste’s parliament raised concerns about a cryptocurrency resort project in the capital, Dili.
- The resort investors include a Chinese businessman, Lin Xiaofan, who was given a diplomatic passport and appointed as a presidential adviser.
- Investigations revealed connections between the resort and Prince Group, a Cambodian company accused by the US of fraud and money laundering.
- Prince Group’s founder was indicted in the US for running cyber fraud and forced labor scams across many countries.
- Authorities seized billions of dollars in assets linked to Prince Group, including bitcoin and luxury properties.
- Lin Xiaofan and current resort shareholders deny involvement in any criminal activities.
- The Timorese opposition demands explanations from the president and foreign affairs minister about issuing the diplomatic passport.
- Timor-Leste’s foreign ministry has not commented on the issue.
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