US Sanctions 41 Entities Tied to Prince Group Scam Network

Treasury also targeted He Yujing, wife of Prince Group executive Chen Bo, and alleges Chen transferred ownership of a Tokyo mansion to her after the October 2025 action. It says Visal Pang controls 11 Cambodian companies, several co-directed with Chen. The announcement further names companies linked to previously sanctioned executives Dai An and Thet Li, including Singapore-based Greenbay Multi Media, which Treasury says is wholly owned by Thet Li.

These are official allegations in a sanctions announcement. The release does not state that every customer or employee of a named company took part in any scam.

What the Designations Require

Property of designated persons in the United States, or in the possession or control of US persons, must be blocked and reported to OFAC. The standing 50 Percent Rule extends the same obligations to entities owned 50 percent or more, directly or indirectly and individually or in aggregate, by blocked persons. Transactions involving blocked property are generally prohibited for US persons or within the United States unless a general or specific OFAC license or an exemption applies. Treasury says violations can carry civil or criminal penalties, with civil penalties possible on a strict liability basis.

The ownership path matters as much as the names on the list. The chain Treasury describes is one selected path within a larger network, and the 50 Percent Rule is a separate standing obligation rather than a figure drawn from this chain.

Reported Scope of the Scam Operations

Treasury describes digital asset investment fraud, romance scams and other online deception that induced victims to transfer funds to criminal-controlled accounts. It says some operations ran from Southeast Asian compounds where people were trafficked or coerced into committing fraud. Victim payments often move through banks or payment apps before reaching exchanges and wallets, so enforcement can rely on property companies, corporate agents and conventional intermediaries as well as onchain evidence.

Treasury credited law enforcement and overseas authorities, including British Virgin Islands and UK partners, for work connecting financial accounts, registrations and corporate directors to the activity.

Coverage Differences and Open Questions

Coverage of the action varies in emphasis. CryptoSlate's reporting focuses on the ownership rule and the blocking mechanics, while NewsBTC frames the action as evidence that enforcement is moving from individual wallets toward corporate infrastructure. Both rely on the same Treasury announcement, and neither source supplies independent figures beyond it.

For exchanges and other counterparties, the immediate compliance question is whether any listed entity, alias or beneficial owner appears in existing relationships. Victims are advised by enforcement commentary to preserve transaction records and report them to official authorities rather than pay third parties offering recovery services.

Why It Matters

For Traders

Exchanges and counterparties with exposure to listed names or related entities may face short-term compliance reviews and delays in affected transactions.

For Investors

The shift toward corporate ownership networks signals that US enforcement against crypto-enabled fraud will widen beyond individual wallets to the businesses behind them.

For Builders

Platforms should build beneficial ownership screening alongside address screening, since sanctioned control can sit behind unrelated-looking corporate layers.