The National Bank of Cambodia announced the initiation of liquidation procedures for Prince Bank

The National Bank of Cambodia announced yesterday that Prince Bank, a subsidiary of the Prince Group, has been placed in liquidation and is no longer allowed to conduct banking operations, including accepting deposits or providing loans.

In the announcement released by the National Bank of Cambodia, it stated that this decision was made in accordance with the laws of the Kingdom of Cambodia. The National Bank of Cambodia has appointed Morison Kak MKA auditing firm as the statutory liquidator to take over the operations and asset disposal of Prince Bank. According to the announcement, from this day forward, Prince Bank must cease all new banking activities, including but not limited to the prohibition of opening new accounts or depositing new funds, and must stop the approval and issuance of various commercial and personal loans.

The Ministry of Interior of Cambodia confirmed that Chen Zhi and his accomplices Xu Jiliang and Shao Jihui were arrested on January 6 and repatriated to China. The three are suspected of involvement in a large-scale transnational online fraud, with related charges brought by a U.S. court. The Cambodian nationality previously granted to Chen Zhi was officially revoked by royal decree in December 2025.