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yesterday

Cambodia Arrests Chen Zhi, Extradites Him to China After Joint Probe

The move follows US and UK sanctions that tied Prince Group to forced‑labour scam networks.

Vehicles drive past the Prince International Plaza in Phnom Penh on October 15, 2025. US authorities on Tuesday unsealed an indictment against Chen Zhi (inset), a UK-Cambodian businessman accused of running forced labor camps in Cambodia where trafficked workers carried out cryptocurrency fraud schemes that netted billions of dollars. The 37-year-old, known as Vincent, founded Prince Holding Group, a multinational conglomerate that authorities say served as a front for "one of Asia's largest transnational criminal organizations," according to the US Department of Justice. (Photo by TANG CHHIN SOTHY/AFP via Getty Images)
Cambodia arrests tycoon tied to doj’s record $15b bitcoin seizure, extradites him to china
Chen Zhi, chairman of Prince Group Holdings
Image

Overview

  • Cambodia’s interior ministry said Chen Zhi, Xu Ji Liang and Shao Ji Hui were extradited to China on Jan 6 following arrests the same day.
  • Officials confirmed that Chen’s Cambodian citizenship was revoked in December 2025.
  • US authorities in October designated Prince Group a transnational criminal entity and reported seizures including nearly 130,000 bitcoins and multiple London properties.
  • Singapore, Taipei and Hong Kong conducted subsequent raids, detentions and asset freezes linked to the alleged network.
  • Prince Group has rejected the allegations and retained Boies Schiller Flexner to mount a legal defense.