The U.S. Department of the Treasury sanctioned nine individuals and 26 entities tied to the Prince Group Transnational Criminal Organization on Tuesday, expanding a campaign against Southeast Asia-based scam operations that have drained billions of dollars from American victims.
The Office of Foreign Assets Control imposed the designations against Prince Group leadership, investors in scam compounds, and front companies, the agency announced. At the same time, Treasury’s Financial Crimes Enforcement Network proposed amending its October 2025 Huione Group Final Rule to cover H-Pay Service PLC and any successor entity.
“Scam centers in Southeast Asia steal billions of dollars from American victims each year,” said Treasury Secretary Scott Bessent. “The Trump Administration is united in its efforts to dismantle these overseas criminal enterprises, and Treasury will continue using its tools to disrupt the networks behind this egregious fraud and protect Americans.”
According to the Treasury, Huione Group functioned as a key channel for laundering proceeds from cyber heists and virtual currency investment scams, and the Prince Group used it to move and consolidate scam-derived funds. The Federal Bureau of Investigation’s New York Office moved in parallel, seizing infrastructure that Huione Group used to defraud Americans.
The action builds on Treasury’s October 14, 2025, designation of the Prince Group as a transnational criminal organization, coordinated with the United Kingdom’s Foreign, Commonwealth and Development Office. Since that step, foreign governments have seized property, made arrests, and frozen assets valued in the billions, the Treasury said. In January, Prince Group leader Chen Zhi was stripped of his titles and Cambodian citizenship.
A U.S. government estimate cited by the Treasury found that Americans lost at least $10 billion in 2024 to Southeast Asia-based scam operations, a 66% jump from the year before. Digital asset investment fraud is among the most common schemes, with perpetrators using text messages and the lure of romance or friendship to push targets toward fake investment platforms controlled by the scammers.
Treasury said the criminal networks recruit workers under false pretenses, often advertising technology or customer service positions at affiliated casinos, resorts, and front companies. Once at the compounds, operators confiscate passports and rely on debt bondage, physical violence, and threats of forced prostitution to force them to defraud strangers online. Recruiters seek English speakers to target Americans, and former scammers have reported daily quotas, according to the Treasury.
Second-in-Command Targeted
Today’s designations focus on Hu Xiaowei, described as the Prince Group’s “second-in-command” and a “big brother” figure to Chen Zhi. Hu was previously designated by OFAC in October 2025 under the alias Chen Xiao’er, and also goes by Hu Shi and Wu An Ming.
Treasury said Hu’s role for the Prince Group has included setting up and supervising subsidiary entities outside Cambodia, handling aircraft-related activities, participating in transnational real estate dealings, running illicit gambling operations, and owning companies ultimately controlled by Chen Zhi.
Hu controls three British Virgin Islands companies — Eagle Fortitude Limited, Leisure Focus Limited, and Future King Inc. — and uses Future King to manage a broader network of firms. Among them are Hong Kong-based asset management firms China Reserve Securities Limited and Future Wing Financial Company Limited, which Treasury said received millions of dollars that were assessed as proceeds from cryptocurrency investment-scam victims.
OFAC also designated Hong Kong-based subordinates Ho Ho Ming, Kong Ka On, and Li Hui, as well as companies controlled by Kong in Hong Kong and the United Kingdom.
Additional individuals designated include Brendon Luo and Qiu Weiren, identified as major investors in a Prince Group scam compound; Dai An, described as a high-level leader within the organization; Fang Zhizhen, said to have laundered scam center proceeds and handled online payment gateways; and Chen Bo, a director of at least six previously designated Prince Group companies. Chen is also the majority owner of Hong Kong-based Cloud Nine No. 4 Leasing Company Limited and Cambodia-based CCU Commercial Bank Plc, both designated today.
Thailand-based White Horse Hotel Management Group Co., Ltd. was also designated as being controlled by Yang Yanming, an individual sanctioned in October 2025.
The actions were taken under Executive Order 13581, as amended by Executive Order 13863, and in furtherance of Executive Order 14390, signed on March 6, 2026, which directs the federal government to combat foreign-backed cybercrime and fraud targeting Americans. OFAC coordinated with Japan’s National Police Agency, while FinCEN credited the Australian Transaction Reports and Analysis Centre for its assistance.
All property and interests in property of the designated persons within U.S. jurisdiction are blocked and must be reported to OFAC. Entities owned 50% or more by blocked persons are also blocked. Written comments on the FinCEN proposed rule may be submitted within 30 days of publication in the Federal Register.
