The Tamesis
It’s been a bad week for Chinese and Taiwanese citizens accused of crimes in Cambodia.
The incident began with the “execution” of a notorious gambling figure in Sihanoukville early last week and ended with the extradition of a key deputy of suspected fraud billionaire Chen Zhi, who was sent back to China on Wednesday (April 1).
The first victim was Lin Pingwen—— “Taiwan’s top gambling figure” The man died in a leaden snowstorm on Monday, March 23, after being hit with a horrific 29 bullets in the seaside town known for its casinos, scam dens and other shady dealings, Asian Gambling Briefing reports.
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The circumstances of his death are unclear but may be related to money laundering case According to Focus Taiwan, the man is related to a man who runs a private club in Taipei.
british crime analyst Martin PerbrickWriting about crime in Asia on Substack, he said Lin’s killing – shot five times in the face and with the rest of his body on his body – “was an execution rather than an accidental murder, which speaks to the geographical reach of China’s transnational organized crime syndicates.”
Lim, known as “The Eel,” reportedly obtained Cambodian citizenship in 2019 Jinbo JA Newsis said to be a former leading member of Taiwan’s Tianmeng underworld.
“He was “88 Lounge” Illegal Online Betting and Money Laundering CaseThis is one of the largest financial crime cases uncovered in Taiwan, involving illegal activities across Asia. “
“Internet fraud money launderers”
Victim No. 2 is Li Xiong, the boss of a notorious financial services company, who was extradited to China on Wednesday (April 1).
Li Xiong, who was arrested on March 28, is the former chairman of CICC. Huionea group accused by the United States of laundering money for North Korean and Southeast Asian cybercriminals. He left Cambodia by flight on Wednesday (April 1).
Chinese state broadcaster CCTV showed footage of 41-year-old Li Xiong being escorted by police after returning to his home country on a China Southern Airlines flight. His head was shaved, handcuffed, and his turban removed.
Whether he can avoid a similar fate is unknown. That may depend on how well he cooperates with the Chinese authorities, who have been very willing Execution of ring leaders who run fraud rings Recently in Southeast Asia.
In May last year, the U.S. Treasury Department accused the Huione Group in Phnom Penh of being a “key node in the laundering of cyber robbery proceeds” carried out by the North Korean regime, and a key node in Southeast Asian transnational criminal groups involved in cryptocurrency investment fraud.
Ministry of Finance Financial Crimes Enforcement Network (FinCEN) Huione allegedly owns companies that provide e-commerce, payments, and crypto services and received at least $4 billion worth of illicit proceeds from scams, stolen funds, and illegal cyber actors between August 2021 and January 2025.
State news agency Xinhua cited China’s Ministry of Public Security as saying Li was at the heart of a “large cross-border gambling and fraud syndicate”.
“Core member of Chen Zhi’s gang”
The investigation found that Li Xiong, the former chairman of Huiwang Group Prince Groupsuspected of multiple crimes,” the ministry said in a statement.
China extradites Chen Zhi, founder of Prince Group A few months ago, his Cambodian conglomerate was sanctioned by the US and UK governments for alleged involvement in online fraud.
On Wednesday, Beijing described Huiwang’s Li as “a core member of Chen Zhi’s criminal gang.”
Following a months-long joint investigation, Li was arrested and deported at the request of Chinese authorities, Agence France-Presse reported, citing a statement from the Cambodian Interior Ministry.
Analysts say Cambodia’s transnational criminal gangs initially targeted Chinese-speaking people and later expanded their reach, stealing tens of billions of dollars annually from victims in the United States and around the world.
Criminal networks from China are using casinos, hotels and fortified buildings in Cambodia and other parts of Southeast Asia as bases to run sophisticated online scams, defrauding people through cryptocurrency schemes and fake romantic relationships, according to Cambodian police. United Nations Office on Drugs and Crime.
“One stop shop”
FinCEN described Huiwang Group as a “major money laundering concern” in May 2025 and subsequently banned U.S. financial institutions from maintaining accounts for it or processing transactions involving the company.
Criminals associated with the organization North Korean government FinCEN said the Huione Group was “extensively used to launder” stolen cryptocurrency for the benefit of Pyongyang’s ballistic missile program, in violation of U.S. and international sanctions.
Huione said its cryptocurrency services and online marketplace make the organization a “one-stop shop” for criminals to launder cryptocurrencies obtained through illegal activities and convert them into money.
Huione has ties to Cambodia’s ruling family. Agence France-Presse said calls to the phone number of Huione, Cambodia’s official business registry, went unanswered on Wednesday.
Critics say the country opens the door to problems by allowing foreigners to buy citizenship with minimal background checks, and is one of the reasons Cambodia has become a key hub for online fraud in recent years, along with the notorious Myawaddy enclave. Thailand-Myanmar border.
Both Chen and Li were granted Cambodian citizenship, which was later revoked. But Chen also serves as an adviser to Cambodian Prime Minister Hun Mane and his father, former leader Hun Sen.
Hun Manai told AFP in February that the government “had no idea he was the main figure” and dismissed accusations of government complicity.
Cambodian authorities have vowed to shut down all online scam centers by the end of April, saying they have given the country a bad name.
Analysts have criticized the enforcement action as window dressing, with thousands of people fleeing suspected scam sites in recent months.
“Combating online gambling and telecommunications fraud is the common responsibility of the international community,” a Chinese Foreign Ministry spokesman said on Wednesday.
Washington last year accused the Prince Group, one of Cambodia’s largest conglomerates, of acting as a front for “one of Asia’s largest transnational criminal organizations.”
Prince Group has denied the accusations.
Meanwhile, British officials announced a new round of sanctions last week Target more individuals and entities related to the Prince Group.
See also:
Thais to seize $420 million in assets linked to Cambodian cyber fraud
Thousands arrested, hundreds deported after Cambodia scam raids
Notorious Myanmar fraud mafia member executed in China
“Fraud billionaire” Chen Zhi arrested in Cambodia and flown to China
Countries seize US$700 million in Prince Group assets in pursuit of “fraudulent billionaire”
US targets multi-billion dollar fraud network in Myanmar and Cambodia
US, UK praised for fraud hub sanctioning and seizing $15 billion in Bitcoin
Cambodia’s fraud hub has tense relations with countries near and far
U.S. sanctions Cambodian Karen warlord’s money laundering ring
UN says Southeast Asian criminal networks rely on Telegram, cryptocurrencies
