UK Freezes £53 Million London Townhouse Linked to Sanctioned Prince Group Associate

British authorities have frozen a London townhouse purchased for £53 million after official property records identified a connection between the property's registered owner and a person subject to UK financial sanctions. The property, located in Belgravia, was purchased in October 2023 by Zhao Chen, who is not herself designated under UK sanctions. The restriction was placed on the property in August 2026.

Land Registry documents show that Zhao Chen acquired the property for £53 million. The townhouse is located within the Chelsea Barracks development in Belgravia and covers approximately 1,366 square metres. Promotional material for the property describes facilities including a private swimming pool, spa areas, cinema and wine cellar.

The restriction recorded against the property refers to Zhao Chen's association with Wu An Ming, whom UK authorities identify as an asset-freeze target. Wu An Ming is one of several identities associated with Hu Xiaowei, a Chinese-born individual sanctioned by the United Kingdom and United States in connection with the Prince Group network.

According to documents reviewed in connection with the property, Zhao Chen and Hu Xiaowei obtained Cypriot citizenship together in 2018 as husband and wife. Zhao Chen is described as a China-born Cypriot citizen. She has not been designated under the UK sanctions regime. Neither Zhao Chen nor Hu Xiaowei responded to requests for comment concerning the property and the reported relationship.

The restriction on the London property does not amount to a confiscation of the asset. A property restriction can prevent transactions involving registered land from being completed or registered unless specified conditions are satisfied. An asset freeze and confiscation are separate legal measures and operate under different statutory procedures.

Hu Xiaowei was sanctioned by the UK in connection with his alleged association with the Prince Group, a Cambodian business network that has been targeted by international authorities over allegations involving online fraud, forced labour and related financial activity. The United Kingdom designated Prince Group and associated persons and entities under its Global Human Rights sanctions framework in October 2025.

The UK sanctions designation states that Prince Group and its subsidiaries were involved in the operation of scam centres in Cambodia. The government's statement of reasons refers to allegations concerning serious human rights abuses, including forced or compulsory labour, and the provision of financial services or other resources connected with those activities.

US authorities have separately described Prince Group as a transnational criminal organisation and have alleged that scam compounds associated with the network operated large-scale cyber-fraud schemes. The allegations include the use of workers who were trafficked or otherwise held under coercive conditions and required to participate in online fraud operations.

Prince Group has denied allegations of illegal activity involving its companies and chairman Chen Zhi. The group has disputed descriptions of Prince Group as a criminal organisation and has rejected allegations made by US authorities concerning its activities.

The London property is not the only UK asset associated with Hu Xiaowei that has attracted sanctions-related action. Previous investigations identified approximately $45 million worth of UK property associated with him, while other jurisdictions have also taken measures involving assets connected with the individual.

The latest property restriction forms part of wider UK action concerning assets connected with international fraud and cybercrime networks. The government's 2026–2029 fraud strategy identifies sanctions as one of the measures available to disrupt overseas actors involved in online fraud and associated human rights abuses. The strategy specifically refers to the October 2025 Prince Group sanctions and states that London properties worth more than £125 million had been frozen following action against the network.

The case also involves corporate connections beyond the London property. Corporate records reviewed by OCCRP indicate that Zhao Chen was a shareholder of AB Digital Technology Resort Lda until December 2025. The company was involved in plans for a blockchain-themed resort in Timor-Leste, and two people associated with the company were also sanctioned in connection with alleged Prince Group links.

The property's purchase in 2023 preceded the UK's October 2025 designation of Prince Group and related individuals. The restriction was subsequently placed on the title in August 2026 after the relevant association with a designated person was identified in the property records.

Under the UK's sanctions framework, an asset freeze can apply to funds or economic resources owned, held or controlled by a designated person. Restrictions can also prevent funds or economic resources from being made available to a designated person or for their benefit. The application of such restrictions to property therefore does not necessarily require the registered owner of an asset to be individually designated.

The Belgravia case concerns a property whose registered owner is not herself a sanctioned person but whose title has been restricted because of an identified connection with an individual subject to an asset freeze. The restriction therefore concerns the property's ability to be dealt with under the applicable legal conditions rather than constituting a change in registered ownership.

The Prince Group network has been subject to sanctions and other enforcement measures in several jurisdictions. In addition to UK and US measures, Hu Xiaowei has been linked to asset freezes in Hong Kong, a money laundering investigation in Singapore and an indictment in Taiwan. These actions arise from separate legal and regulatory processes.

The UK government's sanctions action against Prince Group was part of measures targeting financial and commercial structures allegedly connected with scam centres in Southeast Asia. The sanctions included asset freezes and travel restrictions against designated individuals and entities.

The £53 million Belgravia townhouse remains subject to the recorded restriction. The available records do not establish that the property itself represents criminal proceeds, nor does the restriction constitute a criminal conviction against Zhao Chen. The action concerns the application of UK sanctions-related restrictions to the property following its reported connection with a designated individual.

By fLEXI tEAM