Huione Group chair extradited to China over scams, North Korean crypto laundering links

Li Xiong, chairman of Huione Group, has been extradited to China for his alleged involvement in online scams targeting South Koreans in Cambodia, according to a report from News1. Li is accused of numerous crimes, including operating casinos, fraud, illegal business practices, and concealing criminal proceeds. He served as chairman of Huione Group, a subsidiary of Prince Group, which has been identified as the main perpetrator of the scams in Cambodia. Last May, the U.S. Treasury Department designated Huione Group and its cryptocurrency exchange, Huione Guarantee, as financial institutions of concern for their role in laundering North Korean cryptocurrency, blocking them from the U.S. banking system.