Prince Group Founder Chen Zhi Arrested in Cambodia, Repatriated to China Amid Cross-Border Fraud Investigation

Chen Zhi, founder and chairman of Prince Group, has been arrested in Cambodia and repatriated to China for investigation, according to The Cambodia China Times, a Chinese media outlet operating in Cambodia. The detention represents a major development in a case that has attracted international attention over allegations of large-scale cross-border fraud and money laundering.

Cambodian media reports indicated that Chen was taken into custody in Cambodia and transferred to China in recent days. A source familiar with the matter told Chinese outlet Hongxing News that the arrest occurred early in the morning and “unfolded rapidly, catching many local observers by surprise.” Despite the founder’s detention, several Prince Group businesses in Cambodia, including its banking and real estate units, were reportedly continuing normal operations at the time of reporting.

Chen, a native of Fujian province in China, is one of the founders of Prince Group, which publicly presents itself as a multinational conglomerate. Public records show that Chen entered the Cambodian market in 2009 and formally established the group in 2015. Over the subsequent decade, Prince Group expanded into property development, finance, energy, telecommunications, and banking. Its subsidiaries, including Prince Real Estate Group, Prince Bank, and Awesome Global Investment Group, have become widely known locally.

U.S. authorities have previously accused Prince Group of orchestrating large-scale investment fraud and money laundering through a complex international corporate network. Prosecutors allege that the group used deceptive recruitment tactics to lure workers to Cambodia, where they were detained and coerced into carrying out telecommunications- and cryptocurrency-related investment scams targeting overseas victims. These operations, often described as “pig-butchering” schemes, are alleged to have generated billions of dollars in illicit proceeds. Investigative documents claim that Prince Group has operated at least ten scam compounds in Cambodia since 2015, masked behind legitimate business activities spanning more than 30 countries and regions. Workers were reportedly subjected to violence and intimidation to maintain operations, with some facilities equipped with large-scale “phone farms” controlling tens of thousands of online accounts.

Indictments further allege that Prince Group engaged in systematic bribery of public officials across multiple jurisdictions to shield the organization from law enforcement scrutiny. Prosecutors assert that luxury items, including yachts and high-end watches, were provided to officials in exchange for protection and advance warnings of potential enforcement actions.

In October 2025, the U.S. Department of Justice announced the seizure and freezing of 127,000 bitcoins linked to Prince Group, valued at approximately $15 billion at the time. Around the same period, Singaporean authorities froze assets belonging to Chen’s family, including luxury vehicles, properties, and bank accounts valued at about SG$150 million ($117 million). Similar asset freezes were reported in Hong Kong, Thailand, and South Korea.

Prince Group has denied all allegations, describing the investigations as “unfounded and politically motivated.” In previous statements, the company said that actions taken by foreign authorities were aimed at seizing its assets rather than pursuing justice.

Chen’s arrest and repatriation occur as multiple jurisdictions continue to investigate the alleged use of legitimate corporate structures to facilitate cross-border fraud and money laundering. Authorities stress that investigations into the group’s operations remain ongoing.

By fLEXI tEAM