Japanese newspaper Mainichi reported on 18/11, citing business registration documents, that Chen Zhi, chairman of Cambodia-based Prince Group, owns a luxury apartment in Tokyo and at least three companies in Japan.
According to investigations by Japanese media, Chen Zhi, who is currently being prosecuted by the U.S. on charges of large-scale investment fraud and money laundering, expanded his business into Tokyo in 2022. He may have sought to obtain permanent residency in Japan through business investments.
Initially, Chen's residential address in business records was listed as a location near Prince Group's headquarters in Phnom Penh. However, after establishing a company named "Prince Group" in Tokyo's Chiyoda district, Chen changed his registered address to a luxury apartment in Minato district.
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Prince Group's headquarters in Phnom Penh, Cambodia. Photo: Yonhap |
According to real estate websites, apartments in this building exceed 150 square meters, with monthly rents reaching several million yen. Some units were advertised for sale at over 1.6 billion yen (approximately 10 million USD). Ten days after the U.S. announced its indictment of Chen, his registered address in Japanese business records was changed back to Phnom Penh.
Local sources in Cambodia indicate Chen frequently visits Japan, but residents in the building reported never seeing him. Japanese officials have not yet commented on this information.
Since 16/10, Japan has tightened its regulations for business visas, increasing the minimum capital requirement from 5 million yen to 30 million yen. Chen's company in Japan only had a capital of 5 million yen.
Business registration data shows that Prince Group established at least three affiliated companies in Japan starting in 2022: Prince Group, Prince Japan, and Canopy Sands.
Although these companies are registered for real estate and investment consulting, Mainichi suggests they may serve solely as money laundering vehicles. In the past few years, they have organized several seminars promoting investments in high-end real estate projects in Cambodia.
Thanh Danh (According to Mainichi, Kyodo)
