Overview
- China’s Ministry of Public Security urged alleged accomplices to turn themselves in and “truthfully confess” before Feb. 15 for lighter sentences, warning of “all‑out” pursuit for holdouts.
- Chen Zhi, founder of Cambodia’s Prince Group, was detained in Phnom Penh and deported to China last week after authorities revoked his Cambodian citizenship and moved to liquidate Prince Bank.
- The United States has indicted Chen on fraud and money‑laundering charges and seized more than $14 billion in bitcoin linked to Prince Group, alongside coordinated U.S.–UK sanctions.
- U.S. prosecutors allege the network used trafficked workers held in prison‑like compounds in Cambodia to run romance, crypto and e‑commerce scams.
- Cambodia’s decision to send Chen to China rather than the U.S. surprised observers and raises questions over jurisdiction for prosecutions and the recovery of seized assets.