As part of its continuing campaign against cybercrime, Cambodian authorities last week cancelled the licences of four casinos allegedly connected to Chinese national Chen Zhi. Zhi’s Phnom Penh-based Prince Group has been widely reported to be linked to one of the largest global online fraud networks.
The Commercial Gambling Management Commission (CGMC) confirmed the enforcement action on Thursday. Three casinos in Sihanoukville — Jinbei, Jinbei 4, and GC Casino — had their licences revoked, along with Golden Fortune in Kandal Province. A fifth property, Casino Khom in Kampot near the Vietnam border, was issued a licence suspension.
“These licences were revoked due to their association with Chen Zhi’s business network,” said regulatory advisor Chhoeng Chantha. The CGMC stated that the measures are intended to “enhance oversight of the commercial gaming sector and ensure all operations comply with the law.”
Reporting by the Kiri Post indicated that between January and February, Cambodian law enforcement dismantled 190 alleged scam operations nationwide. This included 44 gaming venues suspected of involvement in “technology-enabled fraudulent activities.”
Alleged fraud king Chen Zhi
Chinese national Chen Zhi relocated to Cambodia, a country that has experienced rapid growth in its casino sector — an industry that critics say has at times been used as a cover for online scam operations. His company, Prince Group Holdings, has been accused of operating a vast global “pig-butchering” scam network that allegedly generated as much as US$30 million per day at its peak. The proceeds reportedly financed luxury assets including yachts, private jets, holiday properties and even a Picasso purchased at a New York auction.
A 2025 CNN investigation described the “baby-faced tycoon” as having begun his career running an internet café in China before building his fortune in Cambodia. Prince Group has since expanded into real estate development, financial services and consumer businesses. The company also funds educational scholarships bearing Zhi’s name and promotes corporate values centered on “commitment, responsibility, respect, generosity and innovation.” However, reports allege that Zhi and his associates amassed wealth through large-scale scams targeting victims worldwide, allegedly exploiting trafficked workers from 66 countries.
“Chen Zhi doesn’t fit the traditional image of a mob boss,” transnational crime specialist Jacob Sims told CNN. “He is — or was — the refined public face of what appears to be a state-protected criminal economy.”
Cambodia: Committed to reform?
Chen Zhi was widely reported to have connections with senior Cambodian officials. In 2022, he accompanied former prime minister Hun Sen on a trip to Cuba, where he was described as serving in an advisory capacity. The following year, Zhi reportedly entered the United States using a diplomatic passport said to have been issued by a foreign government.
However, his period of influence has since ended. In January, Cambodian authorities arrested Zhi and deported him to China, where he now faces allegations including fraud, money laundering, human trafficking, and torture.
The UN Office on Drugs and Crime recently praised Cambodia for intensifying its efforts against cyber-enabled fraud, a criminal industry estimated to generate around US$40 billion annually. Nevertheless, Amnesty International has urged the government to go further. Montse Ferrer told UCA News that “if the government is truly committed to dismantling this slave-driven industry, it must thoroughly investigate all scamming compounds operating within the country.”
