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Chinese-Cambodian Tycoon Linked to $4 Billion Scam

4/1/2026

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Story summary
  • Chen Zhi, Chinese-Cambodian businessman and founder of the Prince Group, is implicated in a global scam prosecutors say stole billions.
  • Li Xiong, a key figure in this operation, was extradited from Cambodia to China on April 1.
  • The Huione Group, chaired by Li Xiong, reportedly laundered at least US$4 billion from various scams, including US$37 million linked to North Korean cyber thefts.