A Hong Kong court has frozen assets and properties valued at over HK$9 billion (US$1.15 billion) belonging to detained businessman Chen Zhi and his associated companies amidst an online fraud investigation.

A Hong Kong court has ordered the freezing of properties and assets worth more than HK$9 billion (US$1.15 billion) held by detained Chinese-born Cambodian businessman Chen Zhi and his associated companies and individuals, the South China Morning Post has learned. A source told the SCMP on Thursday that the High Court had ordered a restriction on such properties earlier this month following an application from the Department of Justice involving Chen, who is accused of running a sprawling online....