Cambodian authorities arrested and extradited alleged scam kingpin Chen Zhi to China on January 6, following a joint investigation into his conglomerate, Prince Group. The operation follows a New York indictment and US sanctions targeting a global syndicate accused of investment fraud, money laundering, and operating forced-labor scam compounds.
The extradition of Chen Zhi, chairman of the Prince Group, marks a significant result in law enforcement cooperation with Cambodia
, according to China’s Ministry of Public Security. The ministry reported that Chen’s gang is suspected of multiple crimes, including the operation of casinos, fraud, illegal business activities, and the concealment of criminal proceeds.
Chen, a 37-year-old former adviser to Cambodia’s former prime minister Hun Sen, held British and Cambodian citizenship—the latter of which was revoked in December, according to Cambodia’s Interior Ministry. While Chen was arrested alongside two other Chinese nationals, Xu Ji Liang and Shao Ji Hui, he had previously remained at large following a US indictment on fraud and money laundering charges in October.
The Role of Chen Sokly as the Syndicate Enforcer
Court documents and investigative reporting by the Straits Times and the Organized Crime and Corruption Reporting Project (OCCRP) have unmasked a key lieutenant: Chen Xing, also known as Chen Sokly. Born in Shanghai in 1986, Sokly obtained Cambodian citizenship around the end of 2017 and established himself as the syndicate’s risk control lead.
Sokly’s primary mandate was to shield the Prince Group from legal scrutiny. He was tasked with monitoring law enforcement investigations and engaging in corrupt bargaining with foreign officials
to protect the group’s interests. This influence extended to China; prosecutors allege that in May 2023, Sokly dealt with a Chinese government official who promised to get associates off the hook
in exchange for Sokly taking care of the official’s son.
The syndicate’s reach was not merely political. Sokly allegedly used violence to maintain dominance over other scam operators. In July 2024, Chen Zhi specifically ordered that Sokly handle a group member who had stolen money from the organization.
Global Asset Trails and Singaporean Holdings
While Chen Zhi operated at the top, Sokly managed a sophisticated web of assets across Singapore and the United States. In 2017, he signaled his arrival in Singapore by purchasing a 5,694 sq ft apartment at 10 Leedon Heights for S$11 million (US$8.61 million).
- M Capital Global Holdings: A company incorporated shortly after his arrival with an initial investment of just over $5 million, shared equally with his wife.
- Corporate Directorships: Between 2017 and 2023, Sokly registered himself as a director of at least 16 Singaporean firms, most of which shared an address on Shenton Way.
- Asset Shifting: Most of his directorships were removed between 2020 and 2023.
In the United States, Sokly’s movements mirrored the timing of legal pressures. He purchased a California home in 2019 from Fang Zhizhen, a member of the Knight Attack Group—a cybercriminal syndicate that predated the Prince Group. Sokly sold that property in 2024 for approximately US$4.5 million. Furthermore, on November 4, 2025—weeks after sweeping sanctions hit the Prince Group—Sokly transferred a separate US$4 million property to his wife, which was then placed in a trust in December 2025.
The Scale of the Prince Group’s Financial Fraud
The financial magnitude of the syndicate is staggering. A New York indictment filed on October 8, 2025, led to the forfeiture of 127,271 bitcoins by the US government, valued at approximately US$15 billion at the time.
Sokly himself reportedly bragged that the global syndicate was raking in US$30 million a day through its illicit activities. The operation relied on a brutal infrastructure; the US indictment claims Prince Group built at least 10 scam compounds in Cambodia. These sites often utilized modern slavery to target victims overseas, a claim supported by an Amnesty International investigation that identified over 50 active scam sites nationwide.
The syndicate’s corruption was meticulously tracked. A ledger of bribes kept by Chen Zhi revealed that in 2019, Sokly purchased a yacht valued at more than US$3 million for a foreign government official.
Conflicting Narratives on Asset Seizures
The fallout from the takedown has sparked a diplomatic and legal dispute between Washington and Beijing. While the US describes the seizure of roughly $14 billion in bitcoin as one of the largest financial takedowns in history, China’s cybersecurity agency has accused the US government of orchestrating the theft
of those funds years before Chen was criminally indicted.
Simultaneously, the Prince Group and Chen’s legal representatives have denied any involvement in scam operations, maintaining that their legitimate businesses include property development and financial and consumer services.
State Complicity and the Future of the Syndicate
The case exposes a deep overlap between organized crime and state power in Southeast Asia. Chen Zhi’s ability to secure the honorary title of oknha
—typically given to individuals who donate at least $500,000 to the government—and his role as an adviser to Cambodia’s former prime minister suggest a high level of integration into the Cambodian elite.
This suggests a broader pattern of systemic failure. Amnesty International has stated that the prevalence of these sites point towards state complicity in abuses carried out by Chinese criminal gangs
.
With Chen Zhi now under compulsory criminal measures
in China, the focus shifts to the remaining core members of the syndicate
. China’s Ministry of Public Security has warned that arrest warrants will soon be issued for these associates, urging them to surrender for potential leniency. Whether the remaining assets held by figures like Chen Sokly in the US and Singapore can be recovered remains the primary unresolved question for international investigators.
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