The National Bank of Cambodia (NBC) has ordered the immediate cessation of Prince Bank’s operations, triggering a liquidation process overseen by independent auditors, following the extradition of its founder, Sino-Cambodian billionaire Chen Zhi, to China on charges of large-scale cyber fraud.
On October 14, 2025, a major judicial revelation shook Phnom Penh and the international scene: the president of the Cambodian giant Prince Group, Chen Zhi, was formally charged in the United States for orchestrating a vast cryptocurrency fraud network based on forced labor camps in Cambodia.
