As the U.S. and British governments sanctioned a company that carried out fraud schemes worldwide while operating out of Southeast Asian countries including Cambodia, a claim emerged that the company is linked to Seungri (34, legal name Lee Seung-hyun), formerly of the idol group BigBang.
The company sanctioned by the U.S. and British governments is Prince Group and its chair, Chen Zhi. According to a statement from the British government, Prince Group and Chen Zhi were involved in building and operating complexes used as casinos and "scam centers."
According to the British daily the Guardian, Chen Zhi was born in China in 1987. He rapidly accumulated wealth and gained political influence in Cambodia. He is believed to have purchased citizenship in Cyprus and Vanuatu.
Jinbei Group, which runs leisure and entertainment businesses linked to Prince Group, and the cryptocurrency platform "BYEX exchange," connected to Jinbei and Prince Group, were also placed under sanctions.
The U.S. Treasury Department labeled Prince Group a "transnational criminal organization" and imposed 146 sanctions on Chair Chen Zhi and the group. The U.S. Department of Justice indicted Chen Zhi on charges including online financial fraud and money laundering. If convicted, he could face up to 40 years in prison.
The British government said scam centers in Southeast Asia, including Cambodia and Myanmar, lure foreigners with fake job ads into closed casinos or special-purpose facilities and coerce them into conducting online fraud under threats of torture. As a method of fraud, it cited building rapport with targets and then inducing them to invest increasingly large sums in fraudulent cryptocurrency schemes.
As Seungri has been spotted multiple times in Cambodia, claims have continued to surface that he is linked to Prince Group. Early last year, Seungri took the stage at a club in Cambodia, and behind the stage were the words "Prince Brewing" and "Prince Holdings." "Prince Brewing" is known as a brand under Prince Holdings Group.
At the time, Seungri said, "When I told my acquaintances I was going to Cambodia, they asked if it wasn't dangerous and why I was going," adding, "Eat s—. And shut up and come here and see what kind of country Cambodia is. Cambodia, the finest country in Asia." The audience in the club then went wild.