U.S. sanctions nine individuals, 26 entities linked to Cambodia-based Prince Group scam network

The United States has escalated its crackdown on transnational crime by imposing sanctions on individuals and entities connected to the Prince Group, a vast online scam network operating primarily from Cambodia. The Treasury Department announced on Thursday that nine individuals and 26 organizations are now subject to U.S. financial restrictions.

These measures target individuals deemed crucial to the Prince Group's operations, including Hu Xiaowei, identified as the organization's second-in-command and a close associate of its founder. Hu Xiaowei reportedly uses multiple aliases and is involved in a wide range of illicit activities, such as aircraft and real estate fraud, and illegal online gambling.

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Sanctioned nine individuals and 26 entities linked to the Prince Group, which is involved in a massive online scam operation based in Cambodia.

The Treasury Department's Office of Foreign Assets Control (OFAC) stated that the sanctions are aimed at disrupting the financial infrastructure supporting the Prince Group. This includes targeting key investors in the group's scam operations and individuals involved in laundering criminal proceeds. The sanctions also extend to dozens of subsidiaries established by Hu Xiaowei in locations like Hong Kong and Singapore, where he appointed associates as executives.

This action underscores the U.S. government's commitment to combating large-scale fraud schemes that exploit individuals globally. By cutting off access to the U.S. financial system, the sanctions aim to cripple the Prince Group's ability to fund its operations and profit from its criminal activities.

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The targeted individuals include the alleged second-in-command and founder's associate Hu Xiaowei, who uses multiple aliases and is involved in various criminal enterprises.