US sanctions 45 more Prince Group targets over scam network finances

On November 5, the U.S. Treasury Department sanctioned four individuals and 41 firms connected to Cambodia’s Prince Group, bringing the case total to 226 after earlier rounds of 146 entities in October 2025 and 35 in June 2026. The Office of Foreign Assets Control, which enforces U.S. sanctions, said the offshore businesses and finance firms were believed to be involved in the group’s alleged fraud. Targets included Qiu Yong, who allegedly controlled moneylending and other companies in Hong Kong and the British Virgin Islands, and his assistant Zhao Mengyao. Prince Group chairman Chen Zhi was charged in Brooklyn in October 2025 with wire fraud and money-laundering conspiracy; the allegations are unproven and the group claims innocence.