Observers have claimed that Cambodian-Chinese tycoon Chen Zhi, along with prominent businessmen Kok An and Ly Yong Phat, would face the death penalty if they were Chinese nationals found guilty of major fraud crimes.
Social observer Vorn Chanlout wrote on his Facebook page that government-affiliated tycoons often use their political connections to shield themselves from prosecution, relying on state power to protect their criminal activities.
Vorn Chanlout alleged that Chen Zhi is a fugitive wanted by Chinese authorities for large-scale fraud. Instead of being extradited, he said Chen Zhi was embraced by Prime Minister Hun Sen and even appointed as his personal adviser. According to him, this alliance has discouraged legitimate Chinese investors from putting their money into Cambodia, fearing corruption and criminal influence within government ranks.
Singapore’s CNA reported that on November 4, authorities in Hong Kong and Taiwan froze assets worth more than 500 million U.S. dollars linked to the Prince Group conglomerate, which is controlled by Chen Zhi.
The report said Hong Kong authorities froze 354 million dollars in cash, shares, and investment funds tied to Prince Group and its subsidiaries. So far, no arrests have been made. The United States has also blacklisted at least 18 Hong Kong-based companies connected to Prince Group, including Khoon Group and Geotech Holdings.
In Taiwan, police announced the arrest of 25 people and the seizure of nearly 148 million dollars in assets, also linked to Prince Group. The confiscated items included 26 luxury vehicles, several properties, and multiple bank accounts.
Asia One reported on October 30 that Chen Zhi faces up to 10 years in prison in Singapore after being found involved in online fraud and money laundering. Singaporean authorities have seized six luxury houses, 11 high-end vehicles, and a private yacht allegedly purchased with illegal funds.
They also said Chen Zhi faces an additional fine of 500,000 Singapore dollars, on top of the seized assets and pending bank liabilities. Authorities are reportedly seeking his arrest along with more than 30 associates accused of operating fraud schemes from Cambodia.
In the United Kingdom, authorities have frozen properties valued at over 100 million U.S. dollars belonging to Chen Zhi in northern London.
Despite being wanted abroad, Chen Zhi, who holds Cambodian citizenship, remains active as a business figure and government adviser. He was appointed as personal adviser to Senate President Hun Sen on April 19, 2024, after being granted the royal honorific title of “Oknha” at Hun Sen’s request to the King on July 10, 2020.
