Cambodia’s government stated on Wednesday that it expects sufficient evidence from the U.S. and U.K. in their pursuit of Prince Holding Group and its chairman Chen Zhi, following coordinated sanctions alleging the conglomerate ran massive online scams and exploited trafficked workers across Southeast Asia.

Touch Sokhak, spokesperson for Cambodia’s Interior Ministry, emphasized that Prince Holding Group has complied with all Cambodian legal requirements and that Chen’s Cambodian citizenship was granted in accordance with the law. While Cambodia has not accused Chen or his company of wrongdoing, the government said it will cooperate fully with formal requests backed by evidence.

“We do not protect individuals who violate the law,” Sokhak told the Associated Press, “but we hope there will be arguments and sufficient proof against him before any action is taken.”

Allegations by the US and UK

The U.S. Treasury Department and the U.K. Foreign Office jointly imposed sanctions on Chen and Prince Holding Group on Tuesday. Authorities allege that Chen ran a transnational criminal network that defrauded victims globally, exploited trafficked workers in scam compounds across Cambodia, and laundered profits through online gambling and cryptocurrency operations.

U.S. authorities seized more than $14 billion in bitcoin linked to the network and charged Chen with wire fraud and money laundering conspiracies, citing violent coercion of workers, bribery of officials, and use of multiple business fronts to launder illicit funds. U.S. Attorney Joseph Nocella described the operation as “one of the largest investment fraud operations in history.”

In the U.K., authorities froze Chen’s British assets, including a €12 million mansion in North London, a €100 million office building in the City of London, and several luxury flats across the capital.

Experts Highlight Ongoing Risks

Cybercrime analysts have warned that despite sanctions, the network could rebrand and continue operations unless authorities dismantle its online infrastructure, including domains, hosting platforms, and payment systems. John Wojcik, senior threat researcher at Infoblox, noted that the U.S.-U.K. coordinated effort is a major strike against one of Southeast Asia’s largest cybercriminal operations, but more enforcement action is needed.

Chen remains at large and, if convicted in the U.S., could face up to 40 years in prison. Prince Holding Group has denied involvement in any scam operations and has not publicly responded to the latest allegations.

Cambodia’s Role and Criticism

Human trafficking and anti-fraud experts have highlighted Cambodia as a hub for cybercrime and money laundering. Mark Taylor, former human trafficking specialist with Winrock International, stated that Chen was embedded within the Cambodian elite and “well protected,” suggesting the country’s broader role in enabling these operations. Chen was previously an advisor to Cambodian Prime Minister Hun Manet.

Independent research by Cyber Scam Monitor has documented over 200 online scamming centers and casinos in Cambodia, using firsthand accounts, field surveys, and media reports. Victims were typically deceived into investing in fraudulent trading and cryptocurrency schemes, while trafficked workers were forced to operate scams under threat of torture.

Touch Sokhak reiterated that Cambodia will cooperate with other nations where sufficient evidence exists, while ensuring that legal processes are followed and the rights of individuals are respected.