The United States imposed sanctions on 45 targets linked to Prince Group on Nov. 5 for helping sustain its criminal operations and evade earlier sanctions, the U.S. Treasury Department said.
The action expanded sanctions imposed on Oct. 14, 2025, and June 23. The department announced it in its Nov. 5 statement, “Treasury Targets Global Scam Networks and the Corporate Infrastructure That Enables Them.”
The Treasury’s Office of Foreign Assets Control sanctioned four individuals and 41 entities supporting Prince Group’s business network. The department also sanctioned a Malaysian individual for managing Africa-based scammers who defrauded U.S. victims.
Prince Group associates generated billions of dollars through digital asset investment scams, romance scams and other online fraud, the department said. It linked many operations to Southeast Asian compounds where trafficked workers and people forced to work carry out scams against victims worldwide.
The department said the newly sanctioned people and companies helped Prince Group continue operating after the earlier sanctions. Their work included managing offshore companies, hiding their true owners and providing administrative and financial services to senior executives. The department said these arrangements helped executives conceal assets and retain access to the international financial system.
Qiu Yong controlled companies in the British Virgin Islands and Hong Kong on Prince Group’s behalf, the department said. It identified him as a member of the group who worked for a company controlled by its leader, Chen Zhi. The department sanctioned Chen on Oct. 14, 2025.
The department said Qiu ultimately owned Hong Kong money lenders Premium Financial Limited and Solar Scape Financial Limited through British Virgin Islands companies. It also linked companies he owned to the wine industry. The department said Zhao Mengyao, also known as Amy Zhao, served as his personal assistant, company secretary and co-director of several companies under his control.
The department also targeted He Yujing and Visal Pang for holding property for, or directing companies alongside, Prince Group executive Chen Bo. It said Chen transferred ownership of his Tokyo mansion to He, his wife, after the October 2025 sanctions. The department sanctioned Chen Bo on June 23.
Visal Pang controlled 11 Cambodian companies, several jointly directed with Chen Bo, the department said. It said He also owned Cambodia’s Super Light Speed Kh Technology Co., Ltd. Those relationships formed part of the department’s allegations that associates helped previously sanctioned executives hold property and maintain corporate interests.
Treasury Secretary Scott Bessent said scam networks relied on international businesses to move money stolen from Americans. He said the department would pursue their leadership, corporate structures and financial intermediaries.
The department said it coordinated the action with the Federal Bureau of Investigation, Justice Department and U.S. Attorney’s Office for Alaska.
