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Chen Zhi

Chen Zhi
The latest news and top stories on Chen Zhi. A Cambodian-Chinese tycoon, he is the founder and chairman of Prince Group, a multinational conglomerate. He faces indictment in a Brooklyn federal court for wire fraud and money laundering conspiracy, accused of directing forced-labour scam compounds involved in cryptocurrency fraud. The US and UK have sanctioned him and the group.
The detained individuals are of six nationalities and are accused of running online scam operations or residing in Cambodia illegally, local media report says. Photo: Sohu
Cambodia

Cambodia raids sites linked to Chen Zhi, Chinese tycoon accused of scam empire

82 Chinese nationals among 104 people detained in Phnom Penh raids as governments around the world crack down on Chen’s scam business.

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Crime in Hong Kong

Hong Kong court freezes HK$9 billion in assets and properties tied to Chen Zhi

China-Asean relations

China calls on Cambodia for ‘shared security and risks’ during global turmoil

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Cambodia

Why Cambodia’s new law may do little to combat its scam centres

Analysts warn the lack of provisions addressing the role officials and networks play in enabling scams may limit the law’s effectiveness.

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Computers and workstations seized by police during an online scam crackdown at a hotel in Phnom Penh, Cambodia, in March. Photo: Reuters
Cambodia

Opinion | To beat Cambodia’s scam gangs, US must work with China – not blame it

Taking down the deeply rooted, well-connected syndicates would require both Washington’s economic leverage and Beijing’s operational efforts.

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Scams and swindles

Cambodia’s high-stakes war on online scam compounds

Cambodia has vowed to stamp out the scam compounds on its soil by month’s end – but perpetrators remain drawn to the potential for huge profits.

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Cambodia

A US$19 billion scam industry is fleeing Cambodia. Where will it end up?

Scam bosses and their multibillion-dollar crime networks are fleeing to Myanmar, Laos and Thailand ahead of an April deadline.

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A Thai soldier shines a torch into a room disguised as a Chinese police station inside an abandoned scam centre on the Thai-Cambodian border on March 12. Photo: AFP
Singapore

Singapore police seize US$390 million in assets in Prince Group probe

Three men, including the captain of Chen Zhi’s superyacht, have been arrested in connection with the case, police announced.

Cambodia

Cambodia’s Hun Manet admits scam hubs aided property but denies state profit

Scam centres are giving Cambodia a bad reputation, the prime minister says, vowing to wipe them out.

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Crime in Hong Kong

HK$261 million of frozen crime funds may take 7 years to reach Hong Kong coffers

Trials and other legal procedures must first be completed before funds can be deposited into treasury, insider says.

Money seized during an operation combating money laundering is displayed at police headquarters in Wan Chai. Photo: Edmond So
China-Asean relations

Chinese missions in Vietnam, Singapore warn citizens to stay away from gambling

Consulate and embassy issue statements after two separate incidents in which Chinese men fell to their deaths, allegedly after gambling.

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Beijing has been cracking down on gambling activities and operations involving Chinese citizens. Photo: Shutterstock
Cambodia

Opinion | Cambodia’s scam factory survivors find no escape in freedom

A government crackdown freed thousands, but with no passports or support, survivors have simply traded captivity for destitution.

SCMP Highlights

Free Disneyland tickets for helpers; Chen Zhi’s extradition: 7 highlights

From free Disneyland tickets for Hong Kong’s helpers to China’s link to Southeast Asia, here are highlights from SCMP’s recent reporting.

Southeast Asia forced-labour scams

Easier, faster, cheaper: how AI is revolutionising Southeast Asia’s scam hubs

Technology is enabling gangs to target more victims efficiently and expand operations as governments struggle to tackle evolving cybercrime.

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Counterfeit US dollar banknotes on the floor inside a scam compound in Samraong, Cambodia’s Oddar Meanchey province. Photo: Reuters
Cambodia

UK, US cybercrime cooperation ‘continues’ after Chen Zhi extradition to China

A senior Cambodian official tells SCMP that Phnom Penh is collaborating with Beijing, Washington and London in the investigations.

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Billionaire businessman Chen Zhi arrives in Beijing under armed police escort on January 7 to face cybercrime accusations. Photo: AFP
Crime in China

China moves to boost cybercrime penalties by adding exit ban after sentences

Amid cross-border crackdown, draft Cybercrime Prevention and Control Law bill lists exit bans among tools to punish cybercriminals.

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China-Asean relations

Why China was so keen to get to alleged cybercrime boss Chen Zhi first

Young tycoon, who was indicted by the US in October, was extradited from Cambodia this month, accused of running a vast scam network.

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South Korea

73 South Koreans repatriated from Cambodia face online scam probe

Arriving in handcuffs, the suspects allegedly scammed fellow South Koreans out of US$33 million.

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Police officers escort South Koreans allegedly involved in scam operations in Cambodia at Incheon International Airport on Friday. Photo: Reuters
China-Asean relations

China keeps pressure on Cambodia to target cross-border fraud and trafficking

The transnational crimes are a serious barrier to deeper cooperation, Beijing’s envoy says.

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Banking & finance

Scam, corruption cases spark Chinese debate about future of virtual money

The Chen Zhi arrest might push bitcoin prices down temporarily, but analysts said other factors will have greater sway in the long term.

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Cambodia

‘Not the end’: Cambodia keeps up scam crackdown after Chen Zhi sent to China

Phnom Penh signals zero tolerance for scam centres following the deportation of the Prince Group tycoon.

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Guards escort accused scam boss Chen Zhi off a China Southern plane in Beijing on January 8, after his extradition from Cambodia. Photo: China’s Ministry of Public Security/AFP
Scams and swindles

Editorial | Regional cooperation led to arrest of alleged scam kingpin Chen Zhi

The cross-border nature of his alleged criminal network required governments and law enforcement agencies to work together.

This undated photo shows Chen Zhi (centre), who is accused of running a crime network from Cambodia, amid his extradition to China. Photo: Handout
Prince Group

Video | China says extradited scam suspect Chen Zhi engaged in fraud

Authorities say Chen has been taken into custody under the law and the case is under further investigation.

Cambodia

Video | Accused scam billionaire Chen Zhi extradited to China

The founder of the Cambodia-based Prince Group was charged by the US with wire fraud and money laundering in October.

Cambodia

Cambodia dissolves accused scam tycoon Chen Zhi’s Prince Bank

The central bank said the lender has been ‘suspended from providing new banking services, including accepting deposits and providing credit’.

A Prince Bank branch in Phnom Penh, Cambodia. Photo: AFP
Cryptocurrency

China accuses extradited billionaire Chen of running crime network from Cambodia

Beijing says mainland police will put core members of his crime ring on a wanted list and fugitives should ‘turn themselves in’.

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Chen Zhi is accused of multiple crimes, including opening a casino, fraud, illegal operations and concealing criminal proceeds, according to China’s Ministry of Public Security. Photo: Handout
Crime in Hong Kong

Chen Zhi’s Hong Kong firms rocked by resignations and frozen assets

Police freeze HK$2.75 billion in assets tied to tycoon amid probes into alleged telecoms fraud, money laundering and ‘pig butchering’ scams.

US-China relations

China showcases joint effort with US in drugs-related money laundering case

Case spanning both nations saw two men sentenced to jail following US tip-off, People’s Daily reports.

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