Prince Holding Group rejects claims of unlawful activity, says 'all will be clear' once evidence presented

Cambodia-based Prince Holding Group, which faced scrutiny in recent months after being sanctioned by the U.S. and UK for allegedly operating a scam network, has denied all allegations against it and its Chairman, Chen Zhi, in a Nov. 11 statement.

Hired lawyers

In the statement, the company called the allegations "baseless" and sees them as attempts to justify the "unlawful seizure" of its assets, worth billions.

It also said that the "unfounded allegations", amplified by media reports, have caused "undue harm to thousands of innocent employees, partners, and communities".

"The group remains committed to integrity, responsible investment and sustainable economic growth across the region," it said.

It reiterated that the group has operated transparently and in compliance with applicable laws, and that this will be made clear once all evidence is presented.

It also announced that it has contracted lawyers and expressed confidence about its eventual exoneration.

Since the announcement of U.S. sanctions, various countries have taken enforcement action against Prince Holding Group, including Singapore and Taiwan.

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Top image via Prince Group, SPF