Chinese businessman Chen Zhi has been extradited from Cambodia to China following his arrest as part of a multinational investigation into large-scale scam compounds operating across Southeast Asia.
According to the U.S. Treasury, Chen Zhi and the affiliated Prince Group allegedly used a network of businesses to facilitate investment fraud, romance scams, phishing operations and other cryptocurrency-related fraud schemes.
After sanctions imposed by the United States and the United Kingdom in October 2025, authorities in Cambodia, China and the United States launched a joint investigation. In January 2026, Chen Zhi was arrested in Cambodia, stripped of his Cambodian citizenship and extradited to China.
U.S. authorities estimate that the criminal network may have laundered around US$75 billion over the past five to ten years. The scams affected thousands of victims worldwide and caused billions of dollars in financial losses.
The extradition is considered one of the most significant actions taken against Southeast Asia's organised scam-compound industry. Investigations into the network, its assets and alleged associates remain ongoing.
Source: The Guardian
