Chen Zhi, originally from a small town in Fujian, rose from humble beginnings to establish Cambodia's largest real estate conglomerate, Prince Group, becoming one of the country's wealthiest individuals by age 28. A decade later, he faces international scrutiny as the alleged mastermind behind a transnational cyber fraud empire.

The U.S. Department of Justice has seized approximately $15 billion worth of Bitcoin tied to Chen, while the UK has frozen 19 London properties and all his British assets. South Korea has blocked 91 billion won ($68 million) in assets, and Singapore has seized six properties, a yacht, 11 luxury cars, and 150 million SGD ($110 million).

Now, Hong Kong and Taiwan have joined the crackdown. On November 4, Hong Kong police announced the freezing of HK$2.75 billion ($352 million) in assets linked to Prince Group, suspected of involvement in international telecom fraud and money laundering. The assets include cash, stocks, and funds obtained through criminal activities. No arrests have been made yet.

Meanwhile, Taiwanese authorities seized over NT$4.5 billion ($143 million) in assets tied to the group and detained 25 suspects. The group allegedly operated fraudulent schemes in Cambodia while laundering money through a vast corporate network. Raids targeted 47 locations, including offices and residences in Taipei.

Among the confiscated items were 26 luxury vehicles—including Rolls-Royce, Ferrari, and Lamborghini models—valued at over NT$470 million ($15 million), 11 high-end apartments, 48 parking spaces, and 60 bank accounts holding NT$230 million ($7.3 million).

Separately, South Korean police arrested 114 members of a Cambodian fraud ring linked to Prince Group, which allegedly scammed Korean business owners out of 6.9 billion won ($5.2 million).

Chen Zhi, a Cambodian-British dual national, founded Prince Group in 2015, expanding it into real estate, finance, energy, and banking. However, the group reportedly lured workers with fake job ads, forcing them into telecom scams under duress.

The operation allegedly ran at least ten forced-labor scam compounds across Cambodia, using "pig-butchering" schemes to defraud victims of billions in cryptocurrency. To obscure illicit gains, Chen employed sophisticated money-laundering techniques, including Bitcoin mining and online gambling platforms.

In October, the U.S. confiscated 130,000 Bitcoin ($15 billion) tied to Prince Group and imposed sanctions on 146 related entities. Chen remains at large, with reports suggesting Chinese authorities had already been investigating him since 2023.

Witnesses described Prince Group's violent enforcement tactics, including beatings and bribery of foreign officials. Chen allegedly used diplomatic connections to evade law enforcement, boasting of insider access to avoid sanctions.

As of October 30, 2025, Chen's whereabouts remain unknown despite a multinational manhunt.