Observers urge Prince Group to accept open investi | RSS.com
A prominent social analyst is calling on Prince Group to publicly accept an open and independent investigation into allegations surrounding its chairman, Chen Zhi, saying transparency could help clear the company’s name and recover nearly $15 billion in seized assets.
Development and research consultant Sek Socheat told The Cambodia Daily that any investigation should be conducted by an independent body that involves all relevant parties. He said the United States Department of Justice and China’s National Computer Virus Emergency Response Center should participate, working alongside the Cambodian government to verify the company’s claims of innocence.
He said such an inquiry could help remove widespread suspicions aimed at Prince Group and also ease pressure on Cambodia, which has faced growing international criticism over alleged links to criminal activity and claims that the country shelters wanted suspects.
Sek Socheat argued that self-issued statements are not enough to demonstrate transparency. He said a formal investigation that finds no wrongdoing would force critics to face accountability for their accusations.
On November 11, Prince Group issued a statement rejecting allegations that Chen Zhi had engaged in illegal activities, calling the claims baseless and designed to justify the seizure of his multibillion-dollar assets. The company said the accusations have placed thousands of innocent employees, business partners, and associated communities under serious risk, both in Cambodia and abroad. It added that Prince Group remains committed to ethical investment and regulatory compliance.
The Chinese newspaper Global Times reported on November 9 that China’s National Computer Virus Emergency Response Center accused foreign actors of orchestrating the seizure of more than $14 billion in Chen Zhi’s assets. The report suggested the United States government may be behind what it described as a state-level hacking operation that siphoned his Bitcoin holdings.
On October 14, the United States Department of Justice announced that nearly $15 billion in cryptocurrency linked to Chen Zhi, a Chinese-Cambodian national and head of Prince Holding Group, had been seized in connection with an online fraud scheme. The department said Chen Zhi and 118 related companies face allegations tied to the operation. If convicted, he could face up to 40 years in prison.
