"National Bank Liquidates Prince Bank After Tycoon Extradition", 8 January 2026

The National Bank of Cambodia (NBC) on Thursday suspended all new banking services at Prince Bank and placed it into liquidation, two days after the bank’s parent company chairman, Chen Zhi, was arrested and extradited to China.

Chen, wanted by the U.S. on alleged fraud and money laundering linked to online scam operations in Cambodia, was arrested on Jan. 6 in a joint operation between Cambodian and Chinese authorities, though the charges have not been formally confirmed.

Prince Bank, along with Chen and 146 other entities under its parent conglomerate Prince Group, was sanctioned by the U.S. and Britain in October. The governments described Prince Group as a transnational criminal organization running online scam operations built on modern slavery to target Americans and other victims abroad.

The group has repeatedly denied any involvement in scam operations.

NBC said the bank has been placed into liquidation, with accounting firm Morrisonkak MKA appointed to oversee the winding-up process. The central bank did not provide a reason for the action.

“Prince Bank is suspended from providing any new banking services, including accepting deposits and granting loans,” it said. “Morrisonkak MKA Audit-Accounting Co., Ltd. will have the right to control and manage all operations and assets of Prince Bank from the time of this notice.”

… Customers with deposits at Prince Bank can still withdraw funds by “preparing the required documents,” NBC said, adding that it will continue to monitor the interim administration to “protect the interest of depositors and customers.”