On January 7, the Cambodian government deported Prince Group founder Chen Zhi and two associates to China. The Interior Ministry confirmed that Chen’s Cambodian citizenship had been lawfully revoked late last year. Chen had previously been sanctioned by the United States and the United Kingdom on suspicion of large-scale money laundering and involvement in a transnational fraud network; according to a U.S. Justice Department announcement in October 2025, it filed a civil forfeiture complaint concerning cryptoassets linked to Chen’s case, valued at about US$15 billion at the time, and said they were then in U.S. government custody.
In connection with the cases, the National Bank of Cambodia announced that Prince Bank would enter liquidation and suspend business with immediate effect. A Senate spokesperson said that anyone seeking to use ties with the leadership to conceal unlawful conduct was a priority target for removal by the government and the ruling party, and that Cambodia would not provide any protective umbrella for criminal activity.
International-affairs analysts said the deportation showed that Cambodia, under Prime Minister Hun Manet’s leadership, had the ability to combat cross-border crime independently and responded forcefully to outside doubts about its determination to enforce the law. Cambodian courts are currently hearing 35 major telecommunications-fraud cases involving 168 principal suspects, with judicial proceedings continuing.
Compiled by this station.
