Cambodian authorities have frozen assets linked to the alleged scam network Prince Group worth almost US$1 billion — yaani about US$100 crore — and are seeking Interpol assistance to track down 29 alleged ringleaders who have fled overseas, the Phnom Penh Post reported, via Inside Asian Gaming.
Source: Phnom Penh Post via Inside Asian Gaming
Senior Minister Chhay Sinarith, head of the Secretariat of Cambodia's Commission for Combating Online Scams, said investigators had identified 198 companies linked to Prince Group — 98 registered in Cambodia and 100 operating overseas — as part of an expanding investigation into technology-enabled fraud and money laundering, the report said.
Courts had ordered the freezing of more than US$300 million held in bank accounts — yaani over US$30 crore — alongside other assets estimated at almost US$1 billion in total, including buildings, casinos, thousands of real estate properties and movable assets, Sinarith said. Authorities are reviewing how the properties should be managed while proceedings continue, including temporary state administration.
The investigation centres on Prince Group founder Chen Zhi and his associates, whom Cambodian authorities have identified as key suspects in allegations of aggravated fraud by an organised group and aggravated money laundering — allegations, not convictions. Investigators believe some buildings and casino premises operated under affiliated company names were used to conceal online scam operations, Sinarith said.
Warrants, arrests and international cooperation
Cambodian courts have issued arrest warrants for 32 individuals, four others are under judicial supervision, and six alleged ringleaders have been arrested and referred to the courts, the report said. Requests for Interpol Red Notices covering at least 29 additional individuals believed to have fled overseas are being prepared.
A second report, by Cryptopolitan on October 22, gave the same core figures — nearly $1 billion frozen, more than $300 million in bank accounts, and 198 affiliated companies — and noted that Chen Zhi was arrested in January 2026 and extradited to China, and that Prince Group has denied wrongdoing.
Source: Cryptopolitan
The investigation is being conducted in cooperation with the US Federal Bureau of Investigation, China's Ministry of Public Security and other international partners, with information and evidence being exchanged, Inside Asian Gaming reported.
What is solid
- Cambodian courts ordered the freeze and Senior Minister Chhay Sinarith gave the figures — 198 linked companies, over $300 million in bank accounts, almost $1 billion in total assets — in the Phnom Penh Post reporting carried by two outlets.
- Arrest warrants for 32 people and preparations for Interpol Red Notices for at least 29 others were reported by the same minister.
What is only claimed
- Fraud and money-laundering are allegations by Cambodian authorities against Chen Zhi and associates; Prince Group has denied wrongdoing, and a freeze is not a final confiscation — courts must still decide the assets' fate.
Online scam compounds in Southeast Asia have trapped and defrauded victims worldwide, including South Asian workers and diaspora families targeted by investment fraud. A near-$1 billion freeze is one of the largest asset actions yet against an alleged network.