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On January 7, 2026, Chen Zhi, Chinese-born chairman of Cambodia-based Prince Group, was arrested in Cambodia and extradited to China following a joint investigation into his alleged role in a vast transnational online scam network. The U.S. and U.K. have sanctioned Chen and his businesses for wire fraud, money laundering, and exploiting trafficked workers in Southeast Asia. Cambodia revoked his citizenship amid international pressure.
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Authorities across Asia have seized assets and detained individuals linked to the Prince Group, a conglomerate accused of operating a multibillion-dollar online fraud and money laundering scheme. The case involves multiple countries, with assets worth over S$500 million seized, and ongoing investigations into illicit fund flows and shell companies.
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Cambodian authorities have arrested Li Xiong, a Chinese-Cambodian citizen and former Huione Group chairman, on suspicion of operating illegal gambling, fraud, and money laundering linked to a transnational criminal syndicate led by Chen Zhi. The crackdown follows the extradition of Chen Zhi and recent legislation targeting online scams, highlighting efforts to combat cybercrime in Southeast Asia.