Suspected Cyber Scam Kingpin and Head of ‘Prince Group’ Chen Zhi, Arrested in Cambodia and Extradited to China
Published
Key Takeaways
- Arrest and Extradition: Authorities in Cambodia arrested Chen Zhi, the head of Prince Group and alleged cyber scam kingpin, following U.S. and U.K sanctions.
- International Sanctions: A U.S. indictment accuses the Prince Group of running scam compounds engaged in forced labor.
- Massive Asset Seizures: Authorities have seized $15 billion in bitcoin from Zhi's accounts and numerous properties in London, Taiwan, and Singapore.
Cambodian authorities have arrested and extradited Chen Zhi, the chairman of the Prince Group conglomerate and the alleged mastermind behind a multi-billion-dollar criminal enterprise. The individual has been extradited to China to face charges related to his extensive operations.
The Chen Zhi arrest, which also included two associates, marks one of the most significant law enforcement actions against the sprawling network of Southeast Asia cyber scams.
The Prince Group Scam Empire and International Response
According to reports, the Prince Group scam empire has profited from a range of illicit activities, including illegal online gambling, sextortion, money laundering, and the industrial-scale trafficking and torture of enslaved workers operating out of at least ten scam compounds in Cambodia. Prince Group denied the allegations.
In October, the U.S. and the U.K. imposed sanctions on Zhi and 128 associated entities. Concurrently, the U.S. Department of Justice indicted Zhi for operating forced labor scam compounds, leading to the seizure of a record $15 billion in bitcoin.
International partners, including the U.K., Taiwan, and Singapore, have also confiscated properties linked to the group, according to the Treasury.
The relation of the other two arrested individuals, Xu Ji Liang and Shao Ji Hui, to Prince Group is unclear.
Implications of the Cambodia Extradition
Zhi, whose Cambodian citizenship is now revoked according to the Ministry of Interior, was a prominent business figure in the country, with holdings in real estate, banking, and aviation. His arrest and subsequent extradition represent a significant blow to the region's criminal underworld.
South Korean authorities began investigating 64 nationals in October for their alleged roles in an online scam following the repatriation of 64 nationals from Cambodia. One month earlier, a Cambodian senator was sanctioned over human trafficking, forced labor, and crypto scams.
Related
Get expert insights on threats, breaches, scams, and security trends — delivered every Saturday.
Most Popular
Get expert insights on threats, breaches, scams, and security trends — delivered every Saturday.
Most Popular