Chen Zhi, the founder and chairman of Cambodia’s Prince Group, has been arrested in Cambodia and repatriated to China for investigation, according to reports from the Guangxi International Communication Center (Cambodia) and the Cambodia–China Times. The high-profile detention comes amid international law enforcement actions over alleged transnational fraud operations linked to Chen and assets seized by U.S. authorities.
Arrest and Repatriation to China
Local outlets reported that Chen Zhi — a controversial business figure accused of running networks of global cryptocurrency and online scams — was apprehended in Cambodia and handed over to Chinese law enforcement for further investigation. This move dramatically escalates international scrutiny of his activities and adds a complex diplomatic dimension to the ongoing legal actions.
U.S. Charges and Historic Bitcoin Seizure
In October 2025, the U.S. Department of Justice unsealed a federal indictment in Brooklyn, New York, charging Chen with wire fraud conspiracy and money-laundering conspiracy in connection with large-scale investment fraud schemes. The court filing also included a civil forfeiture complaint against approximately 127,271 Bitcoin (BTC) — valued at roughly $15 billion at the time of seizure — that prosecutors allege were proceeds of the criminal enterprise.
U.S. authorities described this forfeiture as the largest cryptocurrency seizure in Department of Justice history, with the seized Bitcoin now in government custody as part of efforts to disrupt illicit financial flows tied to the alleged crimes.
Allegations of Scams and Forced Labor Compounds
According to U.S. prosecutors, Chen allegedly directed the Prince Group’s network of “scam compounds” across Cambodia — facilities where trafficked workers were forced to carry out deception-based fraud schemes often called “pig butchering” scams. These operations targeted victims around the world, encouraging them to transfer cryptocurrency under false promises of profits and then stealing the funds.
Authorities further claimed that these scams inflicted billions of dollars in losses, particularly in the United States and Europe. The complex criminal enterprise, as outlined in court documents, also reportedly utilized money laundering networks and shell companies to conceal illicit proceeds.
International Actions and Sanctions
The actions against Chen and the Prince Group extend beyond the United States. In late 2025, the U.K. and U.S. governments jointly imposed sanctions on 146 individuals and entities tied to the Prince Group’s transnational criminal organisation,—including asset freezes linked to Chen’s overseas holdings.
Regional law enforcement measures have also unfolded, with authorities in South Korea, Taiwan, Hong Kong, Singapore, and Thailand targeting assets and suspects believed to be connected to the alleged crime network. These efforts reflect increasing multilateral cooperation to tackle large-scale cyber-fraud and crypto-related financial crime.
Prince Group’s Public Response and Broader Context
Despite the mounting allegations, the Prince Group has publicly denied involvement in any unlawful activities, categorically rejecting claims that its operations or founder’s wealth were built on illicit scams. The company has stated its intent to clear its name as investigations continue.
Chen Zhi, born in Fujian Province, China in 1987, held multiple citizenships and built the Prince Group into a wide-ranging conglomerate spanning finance, real estate, and consumer services — a presence that has made his legal troubles particularly consequential for regional business and financial networks.
Outlook and Legal Process
With Chen now under investigation in China, legal authorities across multiple jurisdictions may pursue extradition requests, asset forfeiture proceedings, and further charges. The unfolding case continues to draw international attention, highlighting the challenges of combating transnational financial crime involving digital assets and human exploitation.
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