The US Treasury’s Office of Foreign Assets Control sanctioned four individuals and 41 entities tied to Prince Group on November 5, according to a Treasury press release. Decrypt counted the group as 45 targets; Treasury’s total reaches 46 once one separate designation is included. Prince Group is a Cambodian conglomerate accused of running crypto scam compounds, and it denies the allegations, Decrypt reported.
Treasury said the action builds on designations from October 14, 2025 and June 23, 2026, and that targets used shell companies, nominee directors and corporate service providers to hide ownership. Among those named are Qiu Yong, who allegedly controls British Virgin Islands and Hong Kong companies, Cambodian associate Visal Pang, who controls eleven Cambodian companies, and He Yujing, the wife of designated executive Chen Bo. Singapore-based Greenbay Multi Media, owned by designated executive Thet Li, was also sanctioned.
Separately, Treasury designated Malaysian national Chui Kok Wa, who it says led a scam network in Madagascar that defrauded Americans of more than 400,000 dollars in digital assets.
Decrypt reported that the US is seeking forfeiture of about 14 billion dollars in bitcoin tied to Prince Group, and that the Justice Department’s Scam Center Strike Force has reported 580 million dollars in crypto seizures and freezes. Treasury Secretary Scott Bessent said: “Treasury remains committed to dismantling every layer of these organizations.”
The action was coordinated with the FBI, the Justice Department, the BVI Financial Investigation Agency and the UK Foreign, Commonwealth and Development Office, Treasury said.
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