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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.
Illustration: Davies Christian
Scams and swindles

Cambodia’s high-stakes war on online scam compounds

Cambodia has vowed to stamp out the scam compounds on its soil by month’s end – but perpetrators remain drawn to the potential for huge profits.

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Cambodia

A US$19 billion scam industry is fleeing Cambodia. Where will it end up?

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Singapore

Singapore police seize US$390 million in assets in Prince Group probe

Cambodia

Cambodia’s Hun Manet admits scam hubs aided property but denies state profit

Scam centres are giving Cambodia a bad reputation, the prime minister says, vowing to wipe them out.

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Cambodian Prime Minister Hun Manet is interviewed in Brussels on Wednesday. Photo: AFP
Crime in Hong Kong

HK$261 million of frozen crime funds may take 7 years to reach Hong Kong coffers

Trials and other legal procedures must first be completed before funds can be deposited into treasury, insider says.

China-Asean relations

Chinese missions in Vietnam, Singapore warn citizens to stay away from gambling

Consulate and embassy issue statements after two separate incidents in which Chinese men fell to their deaths, allegedly after gambling.

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Cambodia

Opinion | Cambodia’s scam factory survivors find no escape in freedom

A government crackdown freed thousands, but with no passports or support, survivors have simply traded captivity for destitution.

People carry their belongings onto a bus as they leave a suspected scam centre compound in Sihanoukville, Cambodia, last month. Photo: AFP
SCMP Highlights

Free Disneyland tickets for helpers; Chen Zhi’s extradition: 7 highlights

From free Disneyland tickets for Hong Kong’s helpers to China’s link to Southeast Asia, here are highlights from SCMP’s recent reporting.

Southeast Asia forced-labour scams

Easier, faster, cheaper: how AI is revolutionising Southeast Asia’s scam hubs

Technology is enabling gangs to target more victims efficiently and expand operations as governments struggle to tackle evolving cybercrime.

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Cambodia

UK, US cybercrime cooperation ‘continues’ after Chen Zhi extradition to China

A senior Cambodian official tells SCMP that Phnom Penh is collaborating with Beijing, Washington and London in the investigations.

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Billionaire businessman Chen Zhi arrives in Beijing under armed police escort on January 7 to face cybercrime accusations. Photo: AFP
Crime in China

China moves to boost cybercrime penalties by adding exit ban after sentences

Amid cross-border crackdown, draft Cybercrime Prevention and Control Law bill lists exit bans among tools to punish cybercriminals.

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A draft bill announced by China’s public security ministry aims to impose an exit ban on Chinese found guilty of cross-border online crimes for up to three years after serving their sentence. Photo: Shutterstock
China-Asean relations

Why China was so keen to get to alleged cybercrime boss Chen Zhi first

Young tycoon, who was indicted by the US in October, was extradited from Cambodia this month, accused of running a vast scam network.

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South Korea

73 South Koreans repatriated from Cambodia face online scam probe

Arriving in handcuffs, the suspects allegedly scammed fellow South Koreans out of US$33 million.

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China-Asean relations

China keeps pressure on Cambodia to target cross-border fraud and trafficking

The transnational crimes are a serious barrier to deeper cooperation, Beijing’s envoy says.

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A building known as Jinbei 4 was part of a suspected compound built and operated by internationally sanctioned accused scam boss Chen Zhi’s Prince Group, in Sihanoukville, Cambodia. Photo: AFP
Banking & finance

Scam, corruption cases spark Chinese debate about future of virtual money

The Chen Zhi arrest might push bitcoin prices down temporarily, but analysts said other factors will have greater sway in the long term.

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Representations of the bitcoin cryptocurrency. Illustration: Reuters
Cambodia

‘Not the end’: Cambodia keeps up scam crackdown after Chen Zhi sent to China

Phnom Penh signals zero tolerance for scam centres following the deportation of the Prince Group tycoon.

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Scams and swindles

Editorial | Regional cooperation led to arrest of alleged scam kingpin Chen Zhi

The cross-border nature of his alleged criminal network required governments and law enforcement agencies to work together.

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Prince Group

Video | China says extradited scam suspect Chen Zhi engaged in fraud

Authorities say Chen has been taken into custody under the law and the case is under further investigation.

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Cambodia

Video | Accused scam billionaire Chen Zhi extradited to China

The founder of the Cambodia-based Prince Group was charged by the US with wire fraud and money laundering in October.

Cambodia

Cambodia dissolves accused scam tycoon Chen Zhi’s Prince Bank

The central bank said the lender has been ‘suspended from providing new banking services, including accepting deposits and providing credit’.

Cryptocurrency

China accuses extradited billionaire Chen of running crime network from Cambodia

Beijing says mainland police will put core members of his crime ring on a wanted list and fugitives should ‘turn themselves in’.

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Chen Zhi is accused of multiple crimes, including opening a casino, fraud, illegal operations and concealing criminal proceeds, according to China’s Ministry of Public Security. Photo: Handout
Crime in Hong Kong

Chen Zhi’s Hong Kong firms rocked by resignations and frozen assets

Police freeze HK$2.75 billion in assets tied to tycoon amid probes into alleged telecoms fraud, money laundering and ‘pig butchering’ scams.

A commercial tower in Tsim Sha Tsui owned by Cheer Capital, an entity placed on a US sanctions list over tycoon Chen Zhi’s alleged criminal activities. Photo: Dickson Lee.
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

Police said Nigel Tang was arrested for his ‘suspected involvement in money laundering offences’ related to the alleged scam empire boss.

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Thailand

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

Authorities are seizing assets and raiding compounds, but analysts warn the clumsy crackdown is merely scattering syndicates to new hideouts.

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A woman counts US dollars and Japanese yen banknotes in Phnom Penh. Scam money’s reach extends far beyond the Mekong. Photo: AFP
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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