(Image from websitePrince Holding Group)
Cambodian authorities announced the arrest of Chen Zhi, a Chinese billionaire accused of leading a scam network in Cambodia, and confirmed his extradition to China as a fugitive.
On Wednesday, 7 Jan 2026 GMT+7, Cambodia's Ministry of Interior revealed that officials arrested Chen Zhi, a powerful Chinese billionaire accused of running an online scam center using forced labor from human trafficking in Cambodia, and that he has been extradited to China as a fugitive.
Cambodia's Ministry of Interior stated in a press release that officials arrested three Chinese nationals—Chen Zhi, Xu Ji Liang, and Shao Ji Hui—and have handed them over to the People's Republic of China.
The operation took place last Tuesday under cooperation to combat transnational crime and followed a request from Chinese authorities.
In October 2025, the U.S. government accused Chen Zhi, founder of Prince Holding Group—one of Cambodia's largest conglomerates—of masterminding a multi-trillion-dollar cryptocurrency scam and being involved in detaining human trafficking victims in forced labor camps.
Chen Zhi faces charges in absentia for conspiracy to commit electronic fraud and money laundering after he and unnamed accomplices were accused of exploiting forced labor to deceive investors and using the fraud proceeds to buy yachts, private jets, and Picasso paintings.
The U.S. also seized Bitcoin worth over $14 billion. FBI Director Kash Patel described this as one of the largest financial fraud busts in history.
Additionally, Chen's businesses have been sanctioned by U.S. and U.K. authorities as part of joint efforts to dismantle "transnational criminal organizations."
Chen Zhi, aged 37, is the founding chairman of Prince Holding Group, operating across sectors including real estate, financial services, and consumer goods.
The group's main businesses include Prince Real Estate Group, Prince Huan Yu Real Estate Group, and Prince Bank, with real estate projects in Cambodia valued at over $2 billion, including the large "Prince Plaza" shopping mall in Phnom Penh.
Public information shows Chen was born in China and holds Cambodian and British citizenships.
The company's website describes Chen as a respected entrepreneur and a renowned philanthropist in Cambodia's business community, actively involved in charity through the "Prince Foundation," the company's charitable arm.
Chen previously served as an advisor to Prime Minister Hun Manet and Senate President Hun Sen of Cambodia, and was granted the royal title "Neak Oknha," meaning "powerful billionaire."
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Source:cna