HONG KONG/CAMBODIA — Hong Kong media outlet The Standard reported on Jan. 7, 2026, that Chen Zhi, also known as Vincent Chen, chairman of the Prince Holding Group, has been arrested in Cambodia and extradited to China amid fraud and money-laundering allegations brought by multiple countries involving more than $10 billion.
The Chinese billionaire is widely believed to be the mastermind behind a vast cyber-fraud empire.
Cambodian authorities confirmed the extradition, the BBC reported on Jan. 8. Officials said Chen Zhi, founder of Prince Holding Group, was sent to China after being detained along with two other Chinese nationals on Jan. 6.
The arrests followed months of investigation into transnational crime, with Chen accused of orchestrating a large-scale cryptocurrency fraud operation and using trafficked labour forced to scam victims worldwide.
Chen, 37, was charged by U.S. authorities in October 2025 with fraud, money laundering and operating online scams, with authorities seizing $14 billion worth of bitcoin. His whereabouts had been unknown until his arrest Wednesday, Jan. 7.
Cambodia’s Interior Ministry said three Chinese, Chen Zhi, Xu Jiliang and Shao Jihui, were arrested and deported to China. The ministry did not disclose where Chen had been held. It added that Chen’s Cambodian citizenship was revoked by royal decree in December 2025, after he renounced his Chinese nationality to become a Cambodian citizen in 2014.
Reports say Chinese authorities have been quietly investigating the Prince Holding Group since 2020. Beijing’s Public Security Bureau set up a special task force to probe the company, described as a large transnational online gambling network based in Cambodia.
Cambodia’s ruling elite has long been close to Chen and has largely avoided public comment since the United States and the United Kingdom imposed sanctions on the Prince Holding Group. Cambodian officials have instead called on Washington and London to ensure there is sufficient evidence for the allegations. Some estimates suggest the scam industry linked to such operations accounts for about half of Cambodia’s overall economy.
