The UK has imposed sanctions on assets linked to a Southeast Asian scam network, freezing a £9 million penthouse in London. The Foreign Office stated the network operated centres used to trick victims out of large sums of money, including through fake romantic relationships.
Another property frozen is a six-bedroom mansion near Hampstead Heath, valued at approximately £8.5 million. The penthouse is owned by Thet Li, a key lieutenant of Chen Zhi, who heads the Prince Group. The mansion belongs to Wang Xiaoyan, wife of Zhu Zhongbiao, a director of companies linked to scam centres.
Last year, the UK and US sanctioned the Prince Group and Chen Zhi for running a vast network of scam compounds. This triggered investigations, arrests, and asset freezes worth over £1 billion. Chen Zhi is accused of building casinos and compounds used for scams and laundering proceeds.
The new sanctions also target Thet Li and Hu Xiaowei, a long-term associate of Chen’s who used multiple aliases. Two businesses linked to the #8 Park scam compound in Cambodia are also sanctioned: Xinbi, a cryptocurrency platform, and Legend Innovation Co, which operates the compound.
Minister of State Stephen Doughty said: “Our sanctions today send a clear message: We will not allow British people to become victims of these dreadful scams or tolerate the awful human rights abuses perpetrated in these scam centres.” He added that the UK will drive international action against illicit finance at a summit in June.
Following UK action, Cambodia launched its largest crackdown on scam centres, raiding 2,500 sites, closing hundreds of centres, and releasing tens of thousands of foreign nationals.
