"This is an ongoing war; we have established measures and actions to eradicate this type of crime," Cambodian Foreign Minister Prak Sokhonn stated on 14/1.
He added that Cambodia is determined to suppress transnational crime, especially those using new technologies, like online fraud organizations. Cambodia cooperates closely with the US, China, South Korea, and regional neighbors.
"Chen Zhi's arrest and extradition to China reflect Cambodia's firm commitment to combating crime. This is not the end of the war," the Cambodian foreign minister added.
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Chen Zhi, chairman of Prince Group. Photo: Facebook/Oriental Times. |
Chen Zhi, chairman of Prince Group. Photo: Facebook/Oriental Times.
Chen Zhi, 40, the kingpin of Prince Group, was arrested last week by Cambodian authorities and extradited to China. Foreign Minister Prak Sokhonn did not detail the investigation, but stated Cambodia had cooperated fully with China for many months.
"Chen Zhi once held Cambodian nationality, but our investigation revealed his naturalization process was invalid and he was a Chinese citizen. We then decided to extradite him to China," he explained.
It is unclear what charges Chen Zhi faces in China, where a task force was established in 2020 to investigate Prince Group.
Last week, China's central television broadcast footage of Chen Zhi being escorted to Beijing, handcuffed and hooded. A source stated Chen Zhi was wanted for fraud and operating illegal casinos, describing him as "the leader of a large transnational criminal syndicate involved in gambling and fraud."
Online fraud operations are conducted from vast complexes in several Southeast Asian countries, including Cambodia and Myanmar, involving tens of thousands of people. Many victims were lured by promises of jobs in the technology and hospitality sectors, then forced to carry out online scams under threat of torture.
Chinese police escort Chen Zhi in Beijing on 7/1. Video: CCTV.
The US previously indicted Chen Zhi on charges of online fraud and money laundering. US officials believe Prince Group, headquartered in Cambodia, and Chen Zhi's other businesses, served as a front for "the largest investment fraud operations in history."
US prosecutors last year stated they seized 15 billion USD worth of bitcoin linked to Chen Zhi. Cambodia also liquidated Prince Bank, founded by Chen Zhi.
Hong Kong, Singapore, and Taiwan have frozen hundreds of millions of USD in assets related to Prince Group. The UK and South Korea have also imposed sanctions on Chen Zhi and the group.
Hong Hanh (According to Reuters)
