Cambodia's Central Bank Announces Liquidation Proceedings Against Prince Bank

Odaily News: The National Bank of Cambodia announced yesterday that Prince Bank, under the Prince Group, has been placed into liquidation and is no longer permitted to conduct banking business, including accepting deposits or providing loans.

In its released announcement, the National Bank of Cambodia stated that this decision was made in accordance with the laws of the Kingdom of Cambodia. The National Bank has appointed Morison Kak MKA Audit and Accounting Firm as the statutory liquidator to fully take over the operations and asset disposal of Prince Bank. According to the announcement, effective immediately, Prince Bank must cease all new banking business, including but not limited to prohibiting the opening of new accounts or depositing new funds, and halting the approval and disbursement of various commercial and personal loans.

The Cambodian Ministry of Interior confirmed that Chen Zhi and his accomplices Xu Jiliang and Shao Jihui were arrested on January 6 and repatriated to China. The three are suspected of involvement in large-scale transnational online fraud, with related charges already filed by a US court. The Cambodian citizenship previously obtained by Chen Zhi was officially revoked by a royal decree in December 2025.