Treasury Sanctions 4 Individuals and 41 Entities for Supporting Prince Group Network

Key Facts

On November 5, 2026, the U.S. Treasury Department’s Office of Foreign Assets Control imposed sanctions on 4 individuals and 41 entities it said support the business network of the transnational criminal Prince Group. Treasury said the targeted individuals and entities helped the group continue its global operations after actions in October 2025 and June 2026. Their roles included managing offshore corporate structures, concealing beneficial ownership, facilitating business, and providing administrative and financial services to senior executives, according to the statement. The scope of the action indicates that Washington is targeting the corporate infrastructure and services surrounding the network’s leaders, as well as individuals linked to it. Treasury said this structure enabled the group’s leaders to hide assets, evade previous sanctions, and maintain access to the international financial system.

The department said targeted individuals took part in activities to evade previous sanctions, including transferring property and owning companies with or on behalf of leaders who had already been listed. Among the names cited in the statement was Kiu Yeung, whom Treasury said controls companies in the British Virgin Islands and Hong Kong on behalf of the group. It added that British Virgin Islands companies own Hong Kong firms engaged in lending and other ventures. Treasury said that Zhao Mengyao, also known as Amy Zhao, Kiu’s personal assistant, serves as a company secretary and joint director at several Hong Kong companies he controls. These arrangements, in Treasury’s account, show how control and services are distributed among companies and individuals across multiple jurisdictions.

The sanctions also targeted He Yujing, the wife of group official Chen Bo, and Visal Pang. Treasury said Chen transferred ownership of his Tokyo mansion to He Yujing after OFAC’s October 2025 action. It added that Pang, who lives in Cambodia, controls 11 Cambodian companies, several of which are jointly managed with Chen Bo. These cases place property transfers and corporate control among the activities the department said helped circumvent earlier restrictions. Under the rule cited by Treasury, sanctions cover assets in the United States or in the possession or control of U.S. persons, while entities owned 50% or more, directly or indirectly, by one or more listed persons are also blocked.

Treasury said fraud operations linked to the group include digital asset investment scams, romance scams, and other types of online fraud. It added that some of these activities are linked to scam compounds in Southeast Asia that rely on trafficked or coerced labor. In an earlier action on June 23, 2026, the office imposed sanctions on 9 individuals and 26 entities linked to the group, including leaders, investors in scam compounds, and front companies. The department said at the time that Americans lost at least 10 billion dollars to scams based in Southeast Asia in 2024, up 66% from the previous year. Cambodian authorities said, according to Agence France-Presse, that Chen Zhi was among at least 6 group leaders arrested, and that properties including casinos and buildings worth close to one billion dollars had been frozen as of November 6, 2026.

Treasury said the action was coordinated with the FBI’s New York and Honolulu field offices, the Justice Department’s Scam Center Strike Force, and the U.S. Attorney’s Office for Alaska. The statement quoted Treasury Secretary Scott Bessent as saying the department is committed to “dismantling every layer of these organizations, from their leadership to their corporate structures and financial facilitators.” Prince Group has previously denied involvement in online scam operations, according to Agence France-Presse. Treasury says the ultimate goal of sanctions is to bring about positive changes in behavior, not to punish, and those affected by a listing may petition to have their names removed from the list. This places delisting among the options the department has announced alongside its expanded targeting.