NewsBTC reports that the US Treasury imposed sanctions on November 5 against four people and 41 organizations that the department says supported the Prince Group network. A Malaysian national accused of running another fraud network in Madagascar was also sanctioned.
US authorities link those targeted to offshore companies, the concealment of beneficial owners and services for executives previously placed under sanctions. The schemes described included investment fraud and other types of online fraud.
The investigation goes beyond cryptocurrency addresses: funds may have moved through banks and payment apps, while companies and intermediaries may have helped conceal owners and income. The allegations were set out by the authorities and do not mean that every employee or client of the named organizations was involved in crimes.