The ordeal of 12 Filipinos forced into a cryptocurrency scam by Chinese mafia in Myanmar is just one of thousands of human trafficking stories in Southeast Asia.
MANILA, Philippines – Twelve Filipinos were able to flee Myanmar’s Shwe Kokko Special Economic Zone or Yatai New City after being allegedly forced to engage in a cryptocurrency scam by Chinese mafia.
The Kayin BGF partnered with Yatai International Holdings Group – a company registered in Hong Kong and Thailand – to form Myanmar Yatai International Holdings for the venture. Pharmaceutical Corporation, a company in Manila allegedly involved in anomalous government contracts at the height of the pandemic.In an email on Tuesday, November 22, Ferdinand Topacio, Ong’s lawyer, denied the senator’s claim.
While Topacio denied that the two companies are related, the chairman of Yatai International Holdings – the company that built She Kokko – still has ties to the Philippines. in 2020, Myanmar Yatai vice president Harry Wang implied that their chairman She Zhijiang, also known as She Lunkai, has several business interests in the Philippines.
Various human rights groups have flagged Shwe Kokko as a means for Chinese gambling tycoons to circumvent Chinese laws. The researchers concluded that what’s happening in Shwe Kokko is not a story of Chinese BRI expansion fueling conflict. Rather, it is a story of “rapacious capitalism seeking new spaces to expand into and exploit, and new jurisdictions to operate from.”
Among the 12 Filipinos who were recently rescued from Shwe Kokko is “Rita,” who was presented by Hontiveros at the Senate hearing as a witness. Rita said that the Chinese mafia threatened to beat them with electric batons if they attempted to flee.
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