Cambodia’s Minister of Justice, Koeut Rith, has confirmed that all assets belonging to alleged scam kingpin Chen Zhi will be legally confiscated and transferred to the national treasury, according to local media outlet The Cambodia China Times.
Chen Zhi is one of the founders of Prince Group, which has been accused of large-scale investment fraud and money laundering. However, the report did not disclose the total value of the assets seized. In the same case, US law enforcement authorities previously seized Chen Zhi’s crypto assets, reportedly valued at as much as $15 billion. Other jurisdictions have also taken action, including Hong Kong, which seized assets worth approximately $354 million, and Singapore, which confiscated assets valued at around $111 million.
The announcement follows a major joint operation between Cambodian and Chinese authorities in January 2026, which led to the arrest and deportation of Chen Zhi and his associates to China, where they face charges related to large-scale criminal activities.
During a press briefing held earlier last week, the minister clarified the legal status of the seized properties, noting that assets identified as instruments used in crimes, proceeds of crime, or products of money laundering are subject to state seizure.
“In accordance with the law, these assets will be confiscated and incorporated into the national budget,” he said. He added that the recovered funds would be used for national development and to serve the interests of Cambodia’s 17 million citizens.
Warrants issued for 700 suspects
Chhay Sinarith, Senior Minister and Secretary-General of the government’s Anti-Cybercrime Commission, revealed at the same press briefing that arrest warrants have now been issued for approximately 700 individuals linked to various fraud operations nationwide.
He added that the government is coordinating with Interpol to seek Red Notices for these suspects, facilitating the global pursuit of those remaining at large.
To prevent suspects from evading justice, immigration authorities have flagged these individuals to ensure their immediate apprehension should they attempt to enter or leave the country.
The Cambodian government has established a firm timeline for the crackdown, setting late April 2026 as the deadline to eliminate all remaining fraud and scam centers in the country.
According to Prime Minister Hun Manet, the directive aims to demonstrate the administration’s commitment to restoring the nation’s international reputation and strengthening public safety.
