Cambodian authorities have extradited a Chinese-born tycoon accused of running a vast online fraud operation to China, Chinese officials confirmed on Thursday.
The suspect, Chen Zhi, is the chairman of Prince Holding Group, one of Cambodia’s largest conglomerates. U.S. authorities have alleged that the company served as a front for what they described as one of Asia’s largest transnational criminal organizations.
Cambodian officials said Wednesday that Chen and two other Chinese nationals were arrested and transferred to China following a request from Beijing. Chinese authorities later confirmed the extradition.
The United States indicted Chen in October on charges of fraud and money laundering, accusing him of operating a multibillion-dollar cyber scam network from Cambodia. U.S. prosecutors said Chen’s organization defrauded at least 250 Americans of millions of dollars, including one victim who lost about $400,000 in cryptocurrency.
According to U.S. court filings, Chen is accused of overseeing forced-labor compounds across Cambodia, where trafficked workers were allegedly held in prison-like facilities surrounded by high walls and barbed wire. Prosecutors said workers were coerced into carrying out online scams targeting victims around the world.
The operations are believed to have generated billions of dollars in losses globally, primarily through so-called “pig butchering” schemes — long-term cryptocurrency investment scams in which perpetrators build trust with victims before persuading them to transfer funds.
Prince Holding Group has previously denied allegations of criminal activity. Cambodian authorities did not comment on whether Chen would face charges domestically before his extradition.
The case highlights growing international scrutiny of cyber scam networks operating in Southeast Asia, where criminal groups have increasingly been linked to human trafficking, forced labor and large-scale financial fraud.
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