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[CRIME] · Cambodia, China · 3 sources

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Cambodia freezes nearly $1 billion in Prince Group assets

Prince Group Chen Zhi online fraud money laundering asset freeze

Cambodian authorities have frozen approximately $1 billion in assets linked to the Prince Group as part of an investigation into alleged online fraud and money laundering. The frozen assets include more than $300 million held in bank accounts, as well as buildings, casinos, real estate, and other movable property.

Investigators have identified 198 companies associated with the conglomerate, consisting of 98 registered in Cambodia and 100 operating overseas. The probe focuses on allegations of aggravated fraud and money laundering, with authorities suggesting that buildings and casino premises were used to facilitate online scam operations.

Prince Group founder Chen Zhi has been identified as a key suspect. Following the revocation of his Cambodian citizenship, Chen was arrested and extradited to China. Other executives, including Li Song, Liu Yin, Eang Soklim, Eng Dara, and Huang Ron, have also been arrested or arraigned.

Cambodian courts have issued arrest warrants for 32 individuals, while four others remain under judicial supervision. Authorities are currently seeking INTERPOL Red Notices for at least 29 additional suspects believed to have fled the country.

Entities

Cambodia · Chen Zhi · Chhay Sinarith · China · Prince Group

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Sources

Cambodia’s banking crackdown faces scrutiny as IMF warns of persistent cyber-scam risks [www.europesays.com]
Cambodia Freezes Nearly $1 Billion in Prince Group Assets, Seeks INTERPOL Notices for 29 Suspects [www.newsmobile.in]
Cambodia freezes nearly $1B in Prince Group assets as scam crackdown deepens [www.cryptopolitan.com]