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Prince Group

Prince Group
The latest news and top stories on Prince Group. A Southeast Asia-based multinational network, Prince Group operates large-scale online 'scam centres' in Cambodia and Myanmar. It specialises in online fraud, including cryptocurrency scams, using trafficked workers. Sanctioned by US and UK authorities, its chairman faces indictment for orchestrating a cyber-fraud empire that stole billions from victims worldwide.
Illustration: Henry Wong
China-Asean relations

Why China was so keen to get to alleged cybercrime boss Chen Zhi first

Young tycoon, who was indicted by the US in October, was extradited from Cambodia this month, accused of running a vast scam network.

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South Korea

73 South Koreans repatriated from Cambodia face online scam probe

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China-Asean relations

China keeps pressure on Cambodia to target cross-border fraud and trafficking

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Cambodia

‘Not the end’: Cambodia keeps up scam crackdown after Chen Zhi sent to China

Phnom Penh signals zero tolerance for scam centres following the deportation of the Prince Group tycoon.

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Guards escort accused scam boss Chen Zhi off a China Southern plane in Beijing on January 8, after his extradition from Cambodia. Photo: China’s Ministry of Public Security/AFP
Scams and swindles

Editorial | Regional cooperation led to arrest of alleged scam kingpin Chen Zhi

The cross-border nature of his alleged criminal network required governments and law enforcement agencies to work together.

Chen Zhi

Video | China says extradited scam suspect Chen Zhi engaged in fraud

Authorities say Chen has been taken into custody under the law and the case is under further investigation.

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Cambodia

Video | Accused scam billionaire Chen Zhi extradited to China

The founder of the Cambodia-based Prince Group was charged by the US with wire fraud and money laundering in October.

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Cambodia

Cambodia dissolves accused scam tycoon Chen Zhi’s Prince Bank

The central bank said the lender has been ‘suspended from providing new banking services, including accepting deposits and providing credit’.

Cryptocurrency

China accuses extradited billionaire Chen of running crime network from Cambodia

Beijing says mainland police will put core members of his crime ring on a wanted list and fugitives should ‘turn themselves in’.

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Crime in Hong Kong

Chen Zhi’s Hong Kong firms rocked by resignations and frozen assets

Police freeze HK$2.75 billion in assets tied to tycoon amid probes into alleged telecoms fraud, money laundering and ‘pig butchering’ scams.

A commercial tower in Tsim Sha Tsui owned by Cheer Capital, an entity placed on a US sanctions list over tycoon Chen Zhi’s alleged criminal activities. Photo: Dickson Lee.
Singapore

Singapore arrests US-sanctioned yacht captain linked to tycoon Chen Zhi

Police said Nigel Tang was arrested for his ‘suspected involvement in money laundering offences’ related to the alleged scam empire boss.

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Cambodian tycoon Chen Zhi. Photo: Prince Holding Group
Thailand

‘Everyone gets a cut’: why Southeast Asia’s scam industry refuses to die

Authorities are seizing assets and raiding compounds, but analysts warn the clumsy crackdown is merely scattering syndicates to new hideouts.

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South Korea

Seoul sanctions Prince Group chairman Chen Zhi in Cambodia crime crackdown

Chen Zhi, the chairman of the Prince Group, is accused of overseeing scam compounds that detained dozens of South Koreans.

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Singapore

Singapore deepens probe into Chen Zhi’s alleged scam empire with fresh raid

The city state’s police raided a car loan company that borrowed from a firm linked to the tycoon’s Prince Holding Group.

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Cambodian tycoon Chen Zhi. Photo: Prince Holding Group
Japan

Cambodian tycoon linked to scam empire owned luxury condo in Tokyo

The Prince Holding Group boss, who is accused of running a conglomerate built on cyberscam operations, visited Japan frequently.

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Tokyo’s skyline. Cambodian tycoon Chen Zhi, indicted in the US for fraud, owned a luxury home in the Japanese capital. Photo: AFP
US-Asean relations

What US anti-scam ‘strike force’ means for Southeast Asia’s cybercrime fight

Analysts say the US initiative can serve as a coordination blueprint to push back against transnational criminal enterprises.

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Scams and swindles

Editorial | Silver lining in sprawling scam case is cross-border cooperation

The brazen criminal case involving Chen Zhi shows the importance of joint global efforts against cybercrime and transnational scams.

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Singapore

Whisky, limos, missing millions: how Chen Zhi’s Singapore empire unravelled

Court filings reveal how David Wong allegedly orchestrated an internal heist at the Prince Group boss’ Singapore family office.

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Cambodian tycoon Chen Zhi. Photo: Prince Holding Group
Crime in Hong Kong

Hong Kong freezes HK$2.75 billion in assets linked to accused scammer Chen Zhi

Force targets network of businessman behind Prince Group, which US authorities have designated a ‘transnational criminal organisation’.

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Singapore

Singapore seizes US$115 million in assets linked to tycoon behind scam hub

Police said probe into the Prince Group boss started last year after receiving intelligence from the Suspicious Transaction Reporting Office.

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Asean

Scam crackdown in Myanmar dismissed as ‘not serious’ ahead of Asean summit

The scourge of scams in the region threatens to embarrass Asean as it holds a summit in the presence of world leaders such as Donald Trump.

A soldier stands guard as people from various countries, who were working in the KK Park compound in Myanmar and crossed to Thailand via the Moei river, sit in Mae Sot District, Tak province on Friday. Photo: AFP
Hong Kong stock market

Director of Hong Kong-listed FSM Holdings resigns amid Cambodia allegations

Resignation follows US authorities’ accusation that Li Thet was involved with criminal network linked to Prince Holding Group.

A view of Exchange Square in Central, home to the city’s bourse operator, on April 7, 2025. Photo: Jelly Tse
Hong Kong economy

Man accused of running Cambodian scam farm empire has Hong Kong business links

US has sanctioned 11 Hong Kong companies linked to Chen Zhi, CEO and chairman of Cambodian conglomerate Prince Holding Group.

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Singapore

Thailand, Singapore investigate Chen Zhi’s group after Western fraud allegations

Investigators are reviewing financial ties to the Prince Group after its chairman was charged by the US with running a cyber fraud empire.

Blockchain

US seizure of tycoon’s US$13 billion in bitcoin raises anonymity questions

Seizure of alleged ‘pig butchering’ scammer’s tokens is latest in series of cases showing law enforcement’s ability to confiscate crypto.

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A representation of the cryptocurrency bitcoin. Illustration: Reuters
Cambodia

Explainer | Who is Chen Zhi, the ‘untouchable’ tycoon linked to Cambodia’s scam hubs?

The Prince Group’s boss is ‘a deeply state-embedded actor in Cambodia’, where he allegedly directed operations of forced labour compounds.

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Cambodian tycoon Chen Zhi. Photo: Prince Holding Group
Cambodia

Cambodian tycoon exposed as kingpin behind US$14 billion crypto fraud empire

Prince Holding Group’s Chen Zhi exploited forced labour for investment fraud and used the profits to buy jets, according to US prosecutors.

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Cambodia

UK and US sanction Southeast Asian scam networks exploiting trafficked workers

Chinese-Cambodian tycoon Chen Zhi, who is accused of overseeing construction of the scam centres, was among the individuals targeted.

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