Cambodia liquidates Prince Bank founded by alleged scam kingpin Chen Zhi

A bank founded by Cambodia-based conglomerate Prince Holding Group's Chen Zhi has been placed under liquidation.

The National Bank of Cambodia (NBC) announced the decision in a statement on Jan. 8.

Prince Bank is a subsidiary of Prince Holding Group, one of Cambodia's largest conglomerates.

The statement read: “As a result of the liquidation, Prince Bank Plc is no longer allowed to carry out any new banking activities, including accepting deposits and granting loans.”

As reported by the Khmer Times, the central bank's statement said the decision was made in accordance with Cambodian law and an official liquidator, Morison Kak MKA, has been appointed.

Liquidator has full authority to manage and dispose of assets

The appointed liquidator has been granted full authority to manage and dispose of all assets from Prince Bank from the time of notice.

The NBC emphasised that "customers who have deposits at Prince Bank can withdraw money normally by preparing documents to withdraw deposits".

Borrowers "must continue to fulfill their obligations as normal", read the statement.

The NBC and other relevant institutions will continue to monitor the implementation of the interim administration, "with the utmost care to protect the interests of depositors as well as customers".

Caught in Cambodia

Chen, 38, who based his family office in Singapore, was caught in Cambodia and extradited to China on Jan. 7, 2026.

He will be investigated for his alleged role in large-scale fraud and money laundering among other transnational crimes amounting to more than US$10 billion (S$12.7 billion).

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Top photo from Prince Holdings website and Prince Bank/Google Maps