Cambodian tycoon Chen Zhi, chair of Prince Holding Group, was arrested in Cambodia and extradited to China after U.S. prosecutors linked him to a transnational ‘‘pig‑butchering’’ romance and investment crypto fraud. Authorities allege the network ran scam compounds across Southeast Asia and laundered billions in crypto proceeds.

Chen Zhi, the Cambodia‑based businessman who chaired Prince Holding Group, was arrested in Cambodia and sent to China following indictments and multinational enforcement actions that tied him to extensive ‘‘pig‑butchering’’ romance/investment scams and cryptocurrency laundering. U.S. prosecutors and other authorities say the operation ran organized scam compounds across Southeast Asia that cultivated romantic relationships with victims, coaxed them into fake investment platforms, and converted stolen funds into bitcoin and other crypto assets. Investigators reported seizures of significant bitcoin holdings in related actions and described movement of billions of dollars through layered laundering channels. Cambodia revoked Chen’s citizenship and ordered liquidation of a bank linked to his group as part of the fallout. The case highlights coordinated transnational enforcement and the role of cross‑border cooperation in disrupting large crypto fraud syndicates that combine romance deception, fake trading platforms, and complex crypto conversion schemes.