U.S. Sanctions 9 People and 26 Prince Group Entities Over $10 Billion Scam Losses
Updated
Updated · Detroit News · Jun 23
U.S. Sanctions 9 People and 26 Prince Group Entities Over $10 Billion Scam Losses
3 articles · Updated · Detroit News · Jun 23
Summary
Nine people and 26 entities tied to Cambodia’s Prince Group were sanctioned by the United States, expanding a 2025 crackdown on Southeast Asian cybertheft and scam networks targeting Americans.
Treasury said Americans lost at least $10 billion in 2024 to Southeast Asia-based scam operations—up 66% from a year earlier—with digital-asset investment fraud among the most lucrative schemes.
Huione Group was identified as a key laundering channel for Prince Group proceeds, and the Justice Department simultaneously seized a cloud account it says helped move and conceal billions in fraud funds.
Hu Xiaowei—described by U.S. authorities as Prince Group’s second-in-command—was among those targeted; Treasury said he controls British Virgin Islands companies used to manage funds and properties.
The action follows Treasury’s 2025 designation of Prince Group leader Chen Zhi, who was arrested and extradited to China in January after a joint U.S.-China transnational crime investigation.