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Liquidation proceedings tied to assets linked to Prince Group have begun in earnest following the arrest of chairman Chen Zhi, Caixin reported. A British Virgin Islands court appointed joint provisional liquidators to investigate and preserve the assets of 30 entities effectively controlled by Chen.
The entities under liquidation include Amber Hill Ventures (AHV) and Lateral Bridge Global (LBG), which are not on the U.S. sanctions list. According to U.S. prosecutors, more than 90,000 BTC of the over 120,000 BTC seized moved through those companies and Cayman Islands-based Future Technology Investment.