Mars Finance News reports that the U.S. Treasury Department has imposed sanctions on Cambodian tycoon Lee Yong Fah and his companies, accusing them of involvement in human trafficking and forced labor related to cryptocurrency scams.

The sanctions freeze Lee Yong Fah's and his companies' assets in the United States and prohibit American citizens from engaging in related transactions.

Lee Yong Fah and his companies are accused of luring victims to scam centers and forcing workers to participate in cryptocurrency fraud.

The Treasury Department emphasized that this move aims to hold accountable those involved in human rights abuses and fraud.

These sanctions are based on Executive Order 13818, which expands the Global Magnitsky Human Rights Accountability Act.