The Central Bank of Cambodia Announces Commencement of Liquidation Procedure for Prince Bank
By: theblockbeats.news|2026/01/09 09:54:36
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BlockBeats News, January 9th. The National Bank of Cambodia announced yesterday that Prince Bank, a subsidiary of Prince Group, has been placed under liquidation and is no longer allowed to conduct banking operations, including accepting deposits or providing loans.
In its announcement, the National Bank of Cambodia stated that this decision was made in accordance with the laws of the Kingdom of Cambodia. The Central Bank has appointed Morison Kak MKA, an auditing firm, as the legal liquidator to take over the operation and asset disposal of Prince Bank. According to the announcement, Prince Bank must cease all new banking operations with immediate effect, including but not limited to opening new accounts or depositing new funds, as well as approving and disbursing all types of business and personal loans.
The Cambodian Ministry of Interior has confirmed that Chen Zhi and his associates Xu Jiliang and Shao Jihui were arrested on January 6th and extradited to China. The three individuals are suspected of being involved in large-scale transnational online fraud, with related charges filed by a U.S. court. Chen Zhi's Cambodian citizenship, previously obtained, was formally revoked by royal decree in December 2025.
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