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23h ago

Cambodia Arrests Tycoon Chen Zhi, Extradites Him to China

The transfer complicates U.S. efforts to prosecute the Prince Group founder.

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)
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Cambodia arrests tycoon tied to doj’s record $15b bitcoin seizure, extradites him to china

Overview

  • Cambodia’s Interior Ministry said Chen Zhi was arrested with Xu Ji Liang and Shao Ji Hui and handed to Chinese authorities on Tuesday following months of joint investigations and a request from Beijing.
  • The ministry said Chen’s Cambodian citizenship was revoked by royal decree in December 2025.
  • U.S. prosecutors in October charged Chen with wire fraud and money laundering conspiracy tied to alleged forced‑labor scam compounds, and authorities seized about 127,000 bitcoin in one of the Justice Department’s largest forfeiture actions.
  • The U.S. and U.K. sanctioned Chen and Prince Group as a transnational criminal organization, and authorities in Singapore, Taiwan, Hong Kong and Britain moved to freeze or seize related assets.
  • China generally does not extradite its citizens to the United States, leaving Chen’s prospects of facing the U.S. charges uncertain, while Prince Group has denied wrongdoing and says it will seek exoneration.