Originally from China, Chen moved to Cambodia around 2010, seizing opportunities in a burgeoning real estate market fueled by Chinese investment and government land expropriations. According to BBC he founded the Prince Group in 2015, which quickly expanded into various sectors, including banking and airlines.
His rapid rise was marked by obtaining Cambodian citizenship, which allowed him to purchase land directly, and forging key political connections that bolstered his business endeavors.
Despite cultivating a philanthropic image, Chen’s empire is reportedly built on a dark network of scams, including online fraud, human trafficking, and money laundering. U.S. and UK authorities have imposed sanctions on 128 companies associated with him, accusing them of running elaborate fraud operations that involve sextortion and the forced labor of individuals trapped in scam compounds.
The U.S. investigation revealed a sophisticated web of shell companies and cryptocurrency wallets designed to obscure the origins of funds. Allegations detail brutal treatment of victims within these compounds, highlighting the human cost of Chen’s operations.
Following the sanctions, Chen has seemingly vanished, leaving behind a network of businesses scrambling to dissociate from him amid growing public scrutiny. The Cambodian government has remained largely silent, urging U.S. and UK authorities to ensure they have sufficient evidence, but the pressure is mounting as the international spotlight shines on the nation’s tolerance of such criminal enterprises.
As investigations continue, Chen’s disappearance raises questions about the extent of his influence and the complicity of local authorities in his rise to power. The fallout from this scandal could have significant implications for Cambodia’s economy, where scams are believed to represent a substantial portion of activity.
