National Bank of Cambodia Liquidates Prince Bank Following Extradition of Founder Chen Zhi
The National Bank of Cambodia (NBC) has officially ordered the liquidation of Prince Bank following an international fraud investigation involving its founder, Chen Zhi. Founder and Chairman of Prince Holding Group, Chen Zhi, has been arrested and extradited to China for further investigation over alleged transnational crime operations, according to the Cambodian Ministry of Interior.
Prince Bank’s operations, including accepting new deposits and issuing loans, have been suspended as of January 8, 2026, according to a press release issued by the NBC. Morisonkak MKA, a local audit company, has been appointed to oversee the liquidation process and manage the bank's assets.
The NBC statement added that customers with existing deposits can still withdraw their funds normally, provided they submit the necessary documentation. Furthermore, borrowers with outstanding loans are required to continue their repayments as scheduled.
Cambodia arrested and extradited three Chinese nationals, including Chen Zhi, at the request of Chinese authorities, on January 6, 2026. The Ministry of Interior said in a statement that law enforcement from both countries had investigated and cooperated on the case for months.
In October, the US Treasury Department and UK Foreign Office sanctioned Prince Group and dozens of its affiliates, designating them transnational criminal organisations. Chen was charged in absentia in New York with money laundering conspiracy and wire fraud conspiracy, along with several associates.