Geotech Holdings Auditor Grant Thornton Resigns Over OFAC Sanctions Conflict

Reuters

Nov 21, 2025

Geotech Holdings Auditor Grant Thornton Resigns Over OFAC Sanctions Conflict

Geotech Holdings Ltd. announced that its auditor, Grant Thornton Hong Kong Limited, has resigned effective 21 November 2025. The resignation follows the designation of the company's former executive director and controlling shareholder, Mr. Chen Zhi, under U.S. sanctions for alleged involvement with the Prince Group Transnational Criminal Organization related to online scams and money laundering. Grant Thornton cited a conflict with its ethical responsibilities and client continuance policies as the reason for its resignation. The company stated there is no disagreement with the auditor and will seek to appoint a new auditor promptly.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Geotech Holdings Ltd. published the original content used to generate this news brief on November 21, 2025, and is solely responsible for the information contained therein.

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