Cambodia freezes $1bn in assets linked to alleged Prince Group casino scam
CTTC identifies 198 companies, arrests ringleaders and freezes $300m in bank funds
Key Takeaways
- Cambodia’s Commission for Combating Technology-enabled Scams froze $1bn in assets linked to Prince Group.
- The CTTC identified 198 companies tied to Prince Group, including 98 in Cambodia and 100 overseas.
- Chen Zhi and six associates were arrested; Chen Zhi was extradited to China in January 2026 and had his Cambodian citizenship revoked.
- The CTTC froze $300m in bank currency, sought INTERPOL Red Notices for 29 fugitives, and worked with the FBI and the Chinese Ministry of Public Security.
Cambodian authorities have frozen $1bn in assets tied to Prince Group, the company alleged to have used casinos as fronts for large-scale fraud, the Commission for Combating Technology-enabled Scams (CTTC) said on 26 October 2026. The CTTC said the freeze covers buildings, casinos, thousands of real estate properties and $300m in currency held in bank accounts; 198 companies have been linked to Prince Group, including 98 in Cambodia and 100 overseas.
Arrests, extradition and sanctions
The CTTC identified Prince Group’s founder, Chen Zhi, and associates as the ringleaders behind the operation and confirmed arrests of Chen Zhi, Li Song, Liu Yin, Eng Dara, Eang Soklim and Huang Ron. Cambodian authorities said Chen Zhi had been arrested and extradited to China in January 2026 and that his Cambodian citizenship had been revoked.
US and UK authorities previously sanctioned Prince Group and Chen Zhi. The US Department of Justice described Prince Group as “one of Asia’s largest transnational criminal organisations”, running “pig butchering” cryptocurrency scams that defraud victims out of “substantial sums of money.” The UK government froze a number of assets in London, including a £12m mansion and a £100m office building.
Scope of the investigation and international cooperation
The CTTC has identified 198 companies linked to Prince Group and begun procedures to request INTERPOL Red Notices for 29 individuals who fled Cambodia. The CTTC is working with the FBI and the Chinese Ministry of Public Security to strengthen its investigation. The assets frozen by the CTTC include buildings, casinos and thousands of real estate properties, alongside the $300m in bank-held currency.
National enforcement actions
Senior Minister Chhay Sinarith, permanent vice-chairman and Head of the CTTC, said investigators examined 910 locations associated with online scam activities between July 2025 and September 2026, identifying 28 casinos linked to criminal activity. The Secretariat of the Ad Hoc Commission for Combating Online Scams investigated all 195 casinos in Cambodia, resulting in the closure of 20 venues and the suspension of 29 licences pending further inquiry. The CTTC described some scam operations as using unused casinos as compounds that housed trafficked workers and served as hubs for industrial-scale fraud.
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Frequently Asked Questions
What assets did Cambodia freeze in the Prince Group case?
Cambodia froze a total of $1bn in assets linked to Prince Group, including buildings, casinos, thousands of real estate properties and $300m held in bank accounts, the CTTC said on 26 October 2026.
Who has been arrested in connection with the alleged scam?
Chen Zhi, Li Song, Liu Yin, Eng Dara, Eang Soklim and Huang Ron have been arrested, according to the CTTC; authorities also said Chen Zhi was arrested and extradited to China in January 2026 and had his Cambodian citizenship revoked.
How extensive was the CTTC’s investigation into scam locations?
Investigators examined 910 locations associated with online scam activities between July 2025 and September 2026 and identified 28 casinos linked to criminal activity; a review of all 195 casinos led to the closure of 20 venues and suspension of 29 licences.
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About the author
Eleanor Whitfield
Regulatory Affairs Correspondent
Eleanor Whitfield tracks gambling legislation, licensing decisions, and regulator enforcement across key markets — from the UKGC, MGA, and Germany's GGL to Spain's DGOJ and the state-by-state map in the Americas. The reporting answers three questions precisely: what changed, where, and who it affects, with jurisdictions, effective dates, and penalty figures named exactly as published. Compliance officers and operators read Eleanor Whitfield to know which rulebook moved before their next board meeting.
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