Since yesterday, news about the Prince Group has been overwhelming. Here's a lazy pack prepared for industry insiders to quickly understand the event.
On October 14, 2025, the US Department of Justice announced a criminal lawsuit against Chen Zhi, chairman of the Prince Group, accusing him of telecommunications fraud, money laundering, and forced labor crimes, among others. Simultaneously with the criminal charges, the National Security Division of the Department of Justice applied to the court to confiscate Chen Zhi's bulk assets: approximately 127,271 Bitcoins (currently valued at about $15 billion). According to the indictment, these Bitcoins were originally stored in a non-custodial crypto wallet controlled by Chen Zhi's private keys, and are now seized by the US government. Assistant Attorney General John Eisenberg stated this is the largest confiscation action in the history of the Department of Justice.
The US pointed out that the Prince Group has defrauded billions of dollars from the American people through fraudulent means, also revealing inhumane details about Chen Zhi, who even instructed his subordinates to punish "troublemakers" and specifically instructed "not to kill them." Chen Zhi, who holds British and Cambodian citizenships, has fled and is currently untraceable, with the US government stating that "he must be punished!"
Below is a list of assets confiscated from Chen Zhi, with the custodian in parentheses:
💸 $15 billion worth of 127,271 Bitcoins (US government)
🏠 $114 million worth of an office building in London's Financial District (UK government)
🏠 $25 million worth of a mansion (UK government)
🏠 $35 million worth of 17 apartments in London (UK government)
🏠 Several million dollars worth of a mansion in Los Angeles, USA (US government)
❄️ Several million dollars worth of a yacht in Los Angeles, USA (US government)
❄️ Value unknown of a high-end car dealership in Los Angeles, USA (US government)
❄️ All commercial entities within Cambodia (undetermined, possibly the Cambodian government)
Under international pressure, the Prince Group's assets in Cambodia are likely to change hands, either nationalized or privatized, but it is unlikely that the Chen family will control them again.
This action targeted 146 entities, including Chen Zhi himself, several Prince Group executives, and many companies that laundered money for them.Click here to view the sanctions list
This operation is the result of years of undercover investigations by British and American intelligence agencies. It indicates that the Prince Group is facing a crisis of extinction, and the magnitude of this action is likely to prevent it from recovering. This event is definitely an opportunity for relevant stakeholders to come forward and divide the assets, whether it's the US government, the UK government, or even Cambodia, Taiwan, and China.
Some also question whether the US government is attempting to replicate the "Russian Abramovich case" and the "French Alstom case" to target specific tycoons for wealth plundering by using the unwritten rule of "punishing far-reaching crimes" once there are American victims; it also takes this opportunity to demonstrate the US's leadership in combating global crime. And it warns China: if China cannot effectively control its criminals, other countries will clean up for you and dominate the discourse.
Ultimately, whether the US government will fulfill its promise to let the victims claim these confiscated assets, or if they will end up in the national treasury, remains to be seen. This is the largest confiscation case in history, and the global community is watching the US; we await the results. But at the same time, it also warns industry insiders to stay away from the US market, prioritizing safety.
Also, when it comes to making money, enough is enough. After all, a tall tree catches the wind.
————
This is the only gambling industry knowledge channel on TG, aimed at elite executives in the gambling industry. Produced by "Global iGaming Leader - PASA". Deep content on the past, present, and future of the gambling industry is published daily.
If you like our content, feel free to share it.
Free data report: @pasa_research
Join the member group: @pasa002_bot
PASA official website: www.pasa.news
This article cites Telegram: PASA Gambling Depth
