Cambodia’s Prince Bank Liquidated After Founder’s Arrest in Global Fraud Scheme
Cambodia’s central bank has ordered the liquidation of Prince Bank following the extradition of its founder, Chen Zhi, to China on January 6, 2026. The China-born businessman, accused of leading a transnational gambling and fraud network, was arrested in Phnom Penh and faces charges related to cyber fraud schemes, including 'pig butchering' scams.
The National Bank of Cambodia has barred Prince Bank from accepting deposits or issuing new loans. Existing depositors may withdraw funds with proper documentation, while borrowers must continue repayments under current agreements. Branches will be managed by liquidators from Morisonkak MKA Audit Accounting Co., Ltd.
Chen’s arrest marks another blow to Cambodia’s financial sector, already under scrutiny for ties to cross-border fraud rings. His Prince Holding Group had positioned Prince Bank as a digital-friendly institution before its collapse.
