Tabacalera S.L.U., the Madrid-based company that is business partners with the Cuban government in Habanos S.A., has filed for pre-insolvency proceedings, but the company says it’s not running out of money. Rather, it’s the latest chapter in the Chen Zhi drama.
Chen Zhi is a Chinese national who was, until very recently, one of the richest businessmen in Cambodia, where his Prince Group empire was based.
In October, the U.S. government unsealed an indictment against Chen Zhi, who they say was the head of a massive criminal enterprise that engaged in “pig butchering” scams, a multi-step process of scamming people out of cryptocurrency. The government alleges…