Chen Zhi Controls Prince Group, Fraudulently Acquired Assets Spread Worldwide

In October 2025, the US Department of Justice accused Chen Zhi, founder of Cambodia’s Prince Group, of telecommunications fraud and money laundering, alleging he operated a vast scam empire and had approximately $15 billion (60.808 billion Malaysian ringgit) worth of Bitcoin seized. According to Cambodian Chinese-language media, the 'Cambodia-China Times', Chen Zhi was arrested in Cambodia and has been extradited to China for investigation by the relevant authorities.

The Prince Group's assets are spread worldwide, including the UK, US, Hong Kong, Taiwan, and Singapore. According to public records in the UK and the US, Chen Zhi directly or indirectly controls 10 companies in Hong Kong, including Zhihoda and Kun Group, both listed in Hong Kong.

In November 2025, Hong Kong police announced that, based on intelligence and information obtained from multiple sources, they had frozen assets worth HK$2.75 billion (1.432 billion Malaysian ringgit) belonging to a criminal group suspected of international telecom fraud and money laundering. According to reports, this group is the Prince Group, and the frozen assets include criminal proceeds in cash, stocks, funds, and more.

Taiwanese prosecutors stated that they had seized assets worth more than TWD 4.5 billion (580 million Malaysian ringgit) related to the Prince Group and detained 25 suspects. The statement says that under the leadership of Chen Zhi, the Prince Group engaged in fraudulent crimes in Cambodia and established a vast corporate network in various locations for money laundering.

Taiwanese prosecutors have sealed 18 properties, including 11 luxury apartments. In addition, 48 parking spaces and 26 luxury cars—including Rolls-Royces, Ferraris, and Lamborghinis—have also been seized. The total value of these luxury vehicles exceeds TWD 470 million (60.5642 million Malaysian ringgit). Regarding bank accounts, 60 accounts have been frozen, with total balances exceeding TWD 230 million (29.6378 million Malaysian ringgit).

On October 30, 2025, Singapore police seized and detained six properties owned by Chen Zhi and his Prince Group in Singapore, and issued prohibition-of-disposal orders for other related financial assets, including bank accounts, securities accounts, and cash, with a total value exceeding SGD 150 million (475 million Malaysian ringgit). Additionally, a yacht, 11 luxury cars, and numerous bottles of premium liquor were also included under the order.