Cambodia freezes $1B in Prince Group assets as countries split Chen Zhi's empire

Cambodia has joined the international squeeze on assets tied to the Prince Group after courts authorized the country to freeze nearly $1 billion worth of assets, extending a streak of cross-border crackdowns that started after the group’s founder, Chen Zhi, was extradited to China. It is important to note that freezes are confiscations. The head of the secretariat of Cambodia’s Commission for Combating Technology-enabled Scams, Senior Minister Chhay Sinarith, speaking about the provisional nature of the orders, said the decision on whether the country gets to keep the frozen assets is up to judges, per reporting by The Phnom Penh Post. What did Cambodia freeze from Prince Group?

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