Press Note
China
Source by : Bloomberg news hub
January 9, 2026 at 9:46 AM
The Rise and Fall Of Accused Cambodian Scam Kingpin Chen Zhi
Chen Zhi arrested and escorted back to China on Jan. 7.Source: CCTV
For years, well-connected but mysterious tycoon Chen Zhi lived the high life. The 38-year-old Chinese billionaire accumulated luxury property around the world, including a mansion in London and designer condos in Singapore. In Cambodia, he built a real estate and business empire that included a bank and a watchmaking school producing luxury timepieces gifted to world leaders.
But Chen’s world unraveled in October 2025, when he was accused by US authorities of operating “one of the largest transnational criminal organizations in Asia.” Alongside the UK, they sanctioned Chen, his associates and related companies. Authorities also accused Prince Holding Group, the conglomerate he founded and chairs, of operating scam centers that laundered billions of dollars stolen from victims worldwide.
Devashish Govind Tokekar
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