Chen Zhi extradition has been confirmed by Beijing after the accused scam kingpin was flown from Cambodia to China this week. Chinese authorities announced the transfer on Thursday, calling it a major law enforcement breakthrough between the two countries.
Chen, a Chinese-born businessman, arrived under heavy guard on a China Southern Airlines flight from Phnom Penh. Official video showed him in handcuffs as officers removed a hood on the runway, underscoring the high-profile nature of the case.
Cambodian officials said Chen was arrested earlier this week alongside two other Chinese nationals before being extradited at China’s request. Hours later, Cambodia’s central bank placed Prince Bank—founded by Chen—into liquidation, suspending new banking services while allowing customers to withdraw funds.
Prince Bank, a subsidiary of Prince Holding Group, manages roughly $1 billion in assets. Authorities appointed auditor Morisonkak MKA as liquidator and ordered borrowers to continue meeting obligations.
China’s Ministry of Public Security said Chen was brought back to face prosecution and warned that arrest warrants would soon be issued for other key members of his alleged criminal network. Officials pledged to pursue fugitives “resolutely,” framing the case as a warning to transnational fraud syndicates.
The Chen Zhi extradition follows sweeping international allegations. The United States and Britain sanctioned Chen in October, accusing him of directing massive cyberfraud operations across Southeast Asia. US prosecutors allege his network ran scam compounds in Cambodia where trafficked workers were forced to carry out cryptocurrency fraud, including “pig butchering” investment schemes.
American authorities charged Chen with wire fraud and money laundering conspiracy, involving more than 127,000 seized bitcoin—worth over $11 billion at current prices. Prince Group has denied all allegations.
Human rights groups say scam hubs across Cambodia and Myanmar rely on forced labor and violence. Amnesty International has documented dozens of such compounds in Cambodia alone, describing abuses on a “mass scale.” Cambodian officials reject claims of state complicity, insisting crackdowns are underway.
Analysts say sustained international pressure pushed Phnom Penh to act. Chen’s Cambodian nationality was revoked in December, ending his role as a former adviser to Prime Minister Hun Manet and ex-leader Hun Sen. His extradition now signals a shift that could reshape the region’s fight against organized cybercrime.
