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Originally published by Capital Business
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business
January 8, 2026
1d ago

Cambodia extradites alleged scam mastermind to China after arrest

Cambodia extradites alleged scam mastermind to China after arrest

JAN 8 - Cambodia says it has extradited to China a billionaire businessman accused of masterminding a vast cryptocurrency scam in which trafficked workers Kenya breaking news | Kenya news today |..

✨ Key Highlights

Cambodia has extradited billionaire businessman Chen Zhi to China following his arrest on January 6. He is accused of masterminding a massive cryptocurrency scam that allegedly lured trafficked workers into forced labor to defraud victims globally.

  • Chen Zhi was charged by the US last October with running internet scams from Cambodia that stole billions in cryptocurrency, while the UK sanctioned his global business empire, Prince Group.
  • The National Bank of Cambodia has suspended operations of Prince Bank, a subsidiary of Prince Group, placing it in liquidation.
  • China's CCTV confirmed Chen Zhi's extradition, describing him as the head of a major cross-border gambling and fraud syndicate, suspected of multiple crimes.
  • US authorities seized about $15 billion (£11 billion) worth of bitcoin belonging to Chen Zhi last year, in what the FBI Director called one of the largest financial fraud takedowns in history.
  • The UN estimates that hundreds of thousands of people have been trafficked to Southeast Asia, many to Cambodia, and forced to run online scams.

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