Cambodian courts have frozen Prince Group-linked assets valued at almost $1 billion as authorities pursue a fraud and money-laundering investigation that has also produced arrest warrants and an international search for alleged ringleaders.
The frozen property includes buildings, casinos, thousands of real-estate holdings and movable assets. More than $300 million held in bank accounts was included in the court-ordered freezes, which are not final confiscations and remain subject to judicial review and the outcome of the cases.
Authorities began procedures to seek INTERPOL Red Notices for at least 29 alleged ringleaders who fled overseas. Courts issued arrest warrants for 32 accused people and placed four others under judicial supervision.
Investigators identified Prince Group founder Chen Zhi and his associates as key suspects in inquiries into aggravated organised-group fraud and aggravated money laundering. The investigation had been running for several months, reflecting what authorities described as the scale and complexity of a corporate network spanning Cambodia and other countries.
The inquiry identified 198 Prince Group-linked companies, including 98 registered in Cambodia and 100 operating overseas. Cambodian investigators are working with the FBI, China’s Ministry of Public Security and other international partners to exchange intelligence and collect evidence.
Asia News Network reported that buildings and casino premises operating under Prince-affiliated company names were allegedly used to hide online-scam operations. It also said six alleged ringleaders, including Chen, Li Song, Liu Yin, Eng Dara, Eang Soklim and Huang Ron, had been arrested and referred to court. Separately, OCCRP reported that Chen was extradited from Cambodia to China in January.
The U.S. Justice Department alleged that Chen, the founder and chairman of Prince Holding Group, directed forced-labour scam compounds in Cambodia. Its indictment alleged that trafficked workers were compelled to run cryptocurrency-investment frauds, while online gambling and cryptocurrency-mining businesses were used to launder proceeds. Prince Group has called allegations by U.S. and British authorities baseless and said they appeared aimed at justifying the seizure of assets worth billions of dollars.
The Prince Group case sits within Cambodia’s wider anti-scam campaign. Between July 2025 and the end of September, authorities investigated 910 locations associated with online scams, including 86 major centres; referred 529 cases to court; and charged and detained 5,778 people pending investigation. They also identified 28 casino locations implicated in criminal activity and repatriated 22,892 foreign nationals from 40 countries found at sites associated with illegal operations.
As this publication reported in August, Cambodia had already revoked 20 casino licences and suspended 29 more during the broader crackdown. Chhay Sinarith said the government would continue taking “stringent legal action” to prevent Cambodia being used as a base for transnational criminal activity.
