Hong Kong Court Freezes Assets of Prince Group Founder and Associates

A Hong Kong High Court has approved a request from the Department of Justice to issue a restraining order against Chen Zhi, founder of Prince Group, and 42 individuals and companies allegedly involved in operating a scam park in Cambodia. According to Odaily, the order freezes assets totaling 8.938 billion Hong Kong dollars, including bank and securities account deposits, stocks, and properties. Chen Zhi's personal assets in Hong Kong exceed 6.36 billion Hong Kong dollars. Zhou Yun, who assists in managing these assets, has a total asset value of over 2 billion Hong Kong dollars, with personal accounts holding the equivalent of 15.92 million Hong Kong dollars in Hong Kong dollars, euros, and Bitcoin. Additionally, Prince Group affiliates Hu Xiaowei and Li Tian have approximately 400 million Hong Kong dollars and 172 million Hong Kong dollars in assets frozen, respectively. The court is scheduled to reconvene on August 3 to decide whether to extend the restraining order.