Cambodia’s Prince Holding Group published an official statement on its website on November 11, 2025, firmly rejecting allegations of involvement in scams against the group and chairman Chen Zhi, calling the accusations ‘baseless and entirely false’.
The statement said some media and individuals had spread false claims, deliberately distorting facts and misleading the public to provide a pretext for what the group called unlawful freezes or seizures of billions of dollars in assets. Prince Group said the unsubstantiated allegations and reports had seriously damaged its reputation and harmed thousands of employees, partners and communities it served.
Prince Holding Group reiterated that it had operated with integrity and legal compliance since its establishment, conducting business transparently in Cambodia and Southeast Asia and complying strictly with applicable laws. The statement said neither the group nor Chen Zhi had ever engaged in unlawful activity and that all accusations lacked factual and evidential support.
To protect its interests, the group said it had retained the international law firm Boies Schiller Flexner LLP to handle the related legal matters. It would use legal means to defend its reputation, saying the public would see the innocence of the group and its chairman when the truth emerged.
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