Overview
- Cambodia said on January 7 it arrested Chen Zhi along with Xu Ji Liang and Shao Ji Hui and handed them over to China at Beijing’s request, while Chinese authorities have not commented.
- The National Bank of Cambodia placed Prince Bank in liquidation and halted new services, telling customers they can withdraw funds with required documents and must continue repaying loans.
- Prince Bank manages roughly $1 billion in assets, and an AFP reporter observed no unusual lines outside one of its 36 Phnom Penh branches on Thursday morning.
- The U.S. Justice Department indicted Chen in October over alleged forced‑labour scam camps in Cambodia and tied him to about 127,271 bitcoins seized by U.S. investigators, the largest judicial bitcoin seizure in U.S. history.
- U.S. authorities allege Prince Holding Group fronted a major transnational criminal network, allegations the conglomerate denies; Chen lost Cambodian nationality by royal decree in December and has been linked to senior Cambodian leaders as an adviser.