PHNOM PENH: Cambodian authorities have frozen assets worth nearly $1 billion linked to Prince Group as part of a widening investigation into alleged online fraud and money laundering, while seeking international assistance to track down 29 suspects believed to have fled abroad.
According to a report by Asia News, Senior Minister Chhay Sinarith, head of the Secretariat of Cambodia’s Commission for Combating Technology-enabled Scams, said investigators had identified 198 companies linked to the conglomerate, including 98 registered in Cambodia and 100 operating overseas.
The investigation has identified Prince Group founder Chen Zhi and his associates as key suspects. Courts are examining allegations of aggravated fraud by an organised group and aggravated money laundering. Authorities allege that buildings and casino premises associated with the group were used to conceal online scam operations.
Cambodian courts have issued arrest warrants for 32 individuals, while four others have been placed under judicial supervision. Six alleged ringleaders, including Chen Zhi, have been arrested and referred to the courts. Authorities are seeking INTERPOL Red Notices for at least 29 other suspects.
The asset-freezing measures cover more than $300 million held in bank accounts, alongside buildings, casinos, thousands of properties and other assets estimated to be worth nearly $1 billion. Officials stressed that the freezes do not amount to final confiscation, which remains subject to judicial review.
Between July 2025 and September 2026, authorities took action against 910 locations linked to online scams, including 86 major scam centres. A total of 529 cases were referred to court, and 5,778 suspects were charged and detained pending further proceedings.
Cambodia has also processed the repatriation of 22,892 foreign nationals from 40 countries found at locations associated with illegal operations.
Investigators are coordinating with the US Federal Bureau of Investigation, China’s Ministry of Public Security and other international partners as the government intensifies efforts to dismantle scam networks and trace suspected criminal proceeds.
