For more than a decade, Chen Zhi poured millions of dollars into charitable projects in Cambodia, building influence as an adviser to former prime minister Hun Sen and as a prominent “oknha,” a tycoon title awarded in exchange for large financial contributions to the government.
That standing unravelled this month when Chen, chairman of Prince Holding Group, was arrested and handed over to China while wanted by U.S. authorities.
His conglomerate has been blacklisted by the U.S., Britain and several Asian governments over alleged links to online scam operations involving forced labor and money laundering – accusations the company and his lawyer has previously denied.
China’s Ministry of Public Security said Chen is suspected of leading a criminal network involved in multiple offenses, including “operating casinos, fraud, illegal business activities, and concealing criminal proceeds.”
U.S. authorities seized nearly $15 billion worth of bitcoin they allege was linked to online scam proceeds connected to Chen, accusing him of running what they described as a “transnational criminal empire” targeting Americans and others worldwide.
During his years in Cambodia, where he obtained citizenship – and was issued a diplomatic passport – before his citizenship was revoked in December, Chen received numerous honors, including “Entrepreneur of the Year,” “Best Contributions Towards Socio-Economic Development,” and “Visionary Philanthropist of the Year.”
Prince Foundation, the conglomerate’s philanthropic arm, says it has launched more than 280 initiatives since 2015, benefiting more than 1.5 million people through donations exceeding $18 million.
The foundation also partnered with non-profit groups to support schools and contributed nearly $1 million to the Kantha Bopha Foundation, which funds free healthcare for children in Cambodia.
Prince also donated millions of dollars to Cambodia’s COVID-19 response, as well as to flood relief and education scholarships, during a period when U.S. authorities allege the group had already established “profitable cyberfraud operations across Southeast Asia, particularly in Cambodia.”
Those contributions amount to a fraction of the billions of dollars U.S. authorities allege were generated through scam operations linked to Chen and Prince Group.
As Chen sits in Chinese custody, his case has renewed scrutiny of how alleged scam syndicates in Southeast Asia embedded themselves through philanthropy, political access and business ties.
