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Chen Zhi

Chen Zhi
The latest news and top stories on Chen Zhi. A Cambodian-Chinese tycoon, he is the founder and chairman of Prince Group, a multinational conglomerate. He faces indictment in a Brooklyn federal court for wire fraud and money laundering conspiracy, accused of directing forced-labour scam compounds involved in cryptocurrency fraud. The US and UK have sanctioned him and the group.
A court in northern China has sentenced two men to prison and fined them for “illegal trading of foreign exchange and disrupting the financial market order”, according to Chinese state media. Photo: dpa
US-China relations

China showcases joint effort with US in drugs-related money laundering case

Case spanning both nations saw two men sentenced to jail following US tip-off, People’s Daily reports.

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Singapore

Singapore arrests US-sanctioned yacht captain linked to tycoon Chen Zhi

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Thailand

‘Everyone gets a cut’: why Southeast Asia’s scam industry refuses to die

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South Korea

Seoul sanctions Prince Group chairman Chen Zhi in Cambodia crime crackdown

Chen Zhi, the chairman of the Prince Group, is accused of overseeing scam compounds that detained dozens of South Koreans.

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Cambodian tycoon Chen Zhi. Photo: Prince Holding Group
Singapore

Singapore deepens probe into Chen Zhi’s alleged scam empire with fresh raid

The city state’s police raided a car loan company that borrowed from a firm linked to the tycoon’s Prince Holding Group.

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Japan

Cambodian tycoon linked to scam empire owned luxury condo in Tokyo

The Prince Holding Group boss, who is accused of running a conglomerate built on cyberscam operations, visited Japan frequently.

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US-Asean relations

What US anti-scam ‘strike force’ means for Southeast Asia’s cybercrime fight

Analysts say the US initiative can serve as a coordination blueprint to push back against transnational criminal enterprises.

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US Attorney Jeanine Pirro points to a text message sent by a scammer as she announces the Scam Centre Strike Force in Washington on Wednesday. Photo: AP
Cryptocurrency

US, Chinese authorities ramp up actions against syndicates running crypto scams

Syndicates either trick or coerce targeted victims to invest in bogus schemes and transfer funds via bitcoin, ether or stablecoins.

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Cambodia

Chen Zhi’s firm breaks silence, denies tycoon’s empire built on scam money

Prince Holding Group vowed to clear its name amid global asset seizures and forced labour allegations.

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Scams and swindles

Editorial | Silver lining in sprawling scam case is cross-border cooperation

The brazen criminal case involving Chen Zhi shows the importance of joint global efforts against cybercrime and transnational scams.

Motorists ride past a branch of Prince Bank in Phnom Penh on October 15. Hong Kong has joined jurisdictions like the United States, Britain and Singapore in freezing assets linked to China-born businessman Chen Zhi and Prince Group, a multinational network accused of running vast scam centre operations. Photo: AFP
Singapore

Whisky, limos, missing millions: how Chen Zhi’s Singapore empire unravelled

Court filings reveal how David Wong allegedly orchestrated an internal heist at the Prince Group boss’ Singapore family office.

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Cambodian tycoon Chen Zhi. Photo: Prince Holding Group
Crime in Hong Kong

Hong Kong freezes HK$2.75 billion in assets linked to accused scammer Chen Zhi

Force targets network of businessman behind Prince Group, which US authorities have designated a ‘transnational criminal organisation’.

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Cryptocurrency

China, UK police join forces to recover funds from massive crypto fraud

UK police in 2018 seized digital wallets holding more than 61,000 bitcoins, now worth more than US$6.7 billion.

Singapore

Singapore seizes US$115 million in assets linked to tycoon behind scam hub

Police said probe into the Prince Group boss started last year after receiving intelligence from the Suspicious Transaction Reporting Office.

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The Prince International Plaza in Phnom Penh. Photo: AFP
Asean

Scam crackdown in Myanmar dismissed as ‘not serious’ ahead of Asean summit

The scourge of scams in the region threatens to embarrass Asean as it holds a summit in the presence of world leaders such as Donald Trump.

A soldier stands guard as people from various countries, who were working in the KK Park compound in Myanmar and crossed to Thailand via the Moei river, sit in Mae Sot District, Tak province on Friday. Photo: AFP
Thailand

Thai minister quits amid Cambodia scam and crypto controversy

Vorapak Tanyawong denied any involvement in illicit activities on Wednesday, telling reporters he was quitting to focus on his legal defence.

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Hong Kong stock market

Director of Hong Kong-listed FSM Holdings resigns amid Cambodia allegations

Resignation follows US authorities’ accusation that Li Thet was involved with criminal network linked to Prince Holding Group.

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Hong Kong economy

Man accused of running Cambodian scam farm empire has Hong Kong business links

US has sanctioned 11 Hong Kong companies linked to Chen Zhi, CEO and chairman of Cambodian conglomerate Prince Holding Group.

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Businessman Chen Zhi is allged to be behind a huge cybercrime operation in Cambodia. Photo: Prince Holding Group
Singapore

Thailand, Singapore investigate Chen Zhi’s group after Western fraud allegations

Investigators are reviewing financial ties to the Prince Group after its chairman was charged by the US with running a cyber fraud empire.

Blockchain

US seizure of tycoon’s US$13 billion in bitcoin raises anonymity questions

Seizure of alleged ‘pig butchering’ scammer’s tokens is latest in series of cases showing law enforcement’s ability to confiscate crypto.

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Singapore

3 Singaporeans sanctioned over links to Cambodia’s Chen Zhi scam network

Seventeen Singapore-registered entities have also been sanctioned as part of the US-UK cybercrime crackdown.

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Vehicles drive past the Prince International Plaza in Phnom Penh on Wednesday. Photo: AFP
Cambodia

Explainer | Who is Chen Zhi, the ‘untouchable’ tycoon linked to Cambodia’s scam hubs?

The Prince Group’s boss is ‘a deeply state-embedded actor in Cambodia’, where he allegedly directed operations of forced labour compounds.

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Cambodian tycoon Chen Zhi. Photo: Prince Holding Group
Cambodia

Cambodian tycoon exposed as kingpin behind US$14 billion crypto fraud empire

Prince Holding Group’s Chen Zhi exploited forced labour for investment fraud and used the profits to buy jets, according to US prosecutors.

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Cambodia

UK and US sanction Southeast Asian scam networks exploiting trafficked workers

Chinese-Cambodian tycoon Chen Zhi, who is accused of overseeing construction of the scam centres, was among the individuals targeted.

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Thai soldiers provide security for Indonesian nationals being sent home after being forced to work at scam centers in eastern Myanmar in Mae Sot, Thailand in February. Photo: AP
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