US Slaps New Round of Sanctions on Cambodia’s Prince Group
ID: b06bf20c-cd10-5cff-b18d-238e519a0432
STIX ID: report--b06bf20c-cd10-5cff-b18d-238e519a0432
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The U.S. Treasury announced sanctions on nine individuals and 26 companies linked to Cambodia’s Prince Group, accusing the conglomerate of operating Southeast Asia-based scam compounds that use deception, debt bondage and physical coercion to run large-scale online investment/crypto frauds — costing Americans an estimated $10 billion in 2024. Targets named include Hu Xiaowei (multiple aliases), Chen Bo, Brendon Luo, Qiu Wei Ren, Yang Yanming, Fang Zhizhen and several corporate and financial entities across the region.
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