Cambodia's 'Prince Group' was indicted last month by US and UK judicial authorities for global cross-border telecom fraud and money laundering. Taiwan, South Korea, Singapore, and Hong Kong have also launched investigations and asset seizures. Now, even Japan is found to have companies related to the Prince Group, as reported by Japanese media, which revealed that the Prince Group has established at least three affiliated companies in Japan, and group founder Chen Zhi even purchased a luxury residence in Minato Ward, Tokyo, to serve as his residence.
According to Kyodo News, through the corporate registry of a company established by Chen Zhi in 2022, it was confirmed that he purchased a luxury home in Minato Ward, and that the Prince Group has set up at least three affiliated companies in Japan, including "Japan Prince," a consulting company in Shibuya Ward, Tokyo, and "Japan Dingsha Investment Development," a real estate company in Chiyoda Ward. On the surface, these companies engage in real estate trading and consulting, but there are external suspicions that they have actually become hubs for money laundering.
The report mentioned that these companies also hold seminars in Japan to promote real estate investment projects in Cambodia and that these real estate projects may have been developed using proceeds of crime, with the purpose of selling them as a means for money laundering.
US authorities allege that the Prince Group is involved in large-scale investment fraud, money laundering, and other transnational crimes, and have applied for the confiscation of approximately $12 billion worth of Bitcoin assets held by Chen Zhi.
Facing international sanctions, the Prince Group issued a statement on the 11th rejecting all accusations, claiming that the investigations are "groundless" and questioning authorities' attempts to "illegally confiscate tens of billions of dollars in assets." However, the US and UK jointly imposed sanctions in October, and other countries have followed up with their own investigations.