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crime13h ago
Rise and fall of Prince Group raises awkward questions for Cambodia
- Chen Zhi, founder of Prince Group, was extradited to China in January after a US indictment over multibillion-dollar fraud.
- The Guardian outlines how Prince Group allegedly ran scam compounds through front companies and hidden real estate investments in Sihanoukville.
- Cambodia linked Chen to high-level officials, including an official advisory role to Hun Sen and a later knighthood-like title Neak Oknha.
- Authorities claim the crackdown has shuttered 173 senior crime figures and deported 11,000 workers since mid-2025.
- The piece notes that Cambodia’s crackdown comes amid international pressure over human trafficking, forced labor, and scam centers.
- US, UK, and allied authorities have seized assets linked to Chen and Prince Group across multiple jurisdictions.
- Chen Zhi’s extradition adds to Cambodia’s image as a hub for controversial investment and regulatory crackdowns.
- Cambodian authorities claimed progress with a crackdown, yet observers warn the market may simply morph to other locations.
- Prince Group defended its operations, saying the accusations are baseless and assets will be exonerated once facts emerge.
- The Guardian highlights that the Cambodian government blames the scam industry for corruption and seeks to eradicate it by April.
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