Prince Group Chairman Arrested—Photos Reveal Extravagant Parties in Japan

On January 7, the Cambodian Ministry of Interior announced that, at the request of the Chinese government, three Chinese nationals—including Chen Zhi (Chen Ji, hereafter Chen), chairman of the Chinese-affiliated company Prince Holding Group (太子集団控股, hereafter Prince Group), considered one of Asia’s largest transnational criminal organizations—were detained on the 6th. The following day, January 7, Chen’s custody was transferred to China.

The Cambodian Ministry of Interior stated that it had cooperated with the Chinese side for several months in the investigation, and that Chen’s Cambodian nationality had been revoked.

In October of last year, Chen was indicted by the U.S. Federal Bureau of Investigation (FBI) and British authorities on charges including conducting special fraud schemes targeting countries worldwide from bases in Cambodia and other locations, and operating detention centers where trafficked laborers were tortured. The U.S. Treasury Department had also added him to its sanctions list.

FRIDAY Digital obtained evidence photos of a grand party hosted in Japan on December 8, 2022, by a real estate company under Prince Group, and reported on the event in detail. Here’s a look back at the article published on December 17, 2025.

Recognized by the U.S. as Asia’s largest transnational criminal organization

Happo-en in Shirokanedai, Minato-ku, Tokyo, known for its sprawling Japanese gardens and as a venue for weddings and banquets. Three years ago, on December 8, 2022, a strange press event was held in one of its banquet halls.

Crown-shaped logos lined the venue, and men and women in suits chatted casually. At the podium, a stout Chinese-looking man delivered a passionate speech.

“We will present the charms of Cambodia and the current status of globalization accelerating in Phnom Penh including commercial facilities and property explanations.”

The distributed materials said as much. At first glance, it looked like nothing more than an overseas real estate investment briefing. However, the event’s organizer was none other than Prince Group, Cambodia’s massive conglomerate now under scrutiny by law enforcement agencies worldwide.

The man at the podium was Wang Yutang (Wang Yu-tang, hereafter Wang). About three years later, on November 4, 2025, Taiwanese authorities would handcuff him. His alleged crimes included money laundering and organized crime.

The situation escalated in October 2025, when the FBI and British authorities indicted Prince Group and Chairman Chen, and the U.S. Treasury added them to the sanctions list. In an official statement released on October 14, 2025, U.S. and U.K. authorities named the group and stated:

“Washington—Today, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) and the Financial Crimes Enforcement Network (FinCEN), in close coordination with the U.K. Foreign, Commonwealth & Development Office (FCDO), have taken complementary actions against a criminal network targeting citizens of the U.S. and other allied countries through online fraud and stolen fund laundering.”

The group was officially recognized not merely as a fraud syndicate but as:

“Asia’s largest transnational criminal organization.”

This announcement shocked those familiar with the Cambodian economy, as Prince Group had been a leading, highly reputable conglomerate. Its headquarters in central Phnom Penh housed commercial complexes and a five-star hotel, and its subsidiaries included Prince Bank and an airline. Chairman Chen, also active in charitable activities, had earned tremendous credibility in public society as a young luminary.

〈Imprisoned thousands of people gathered through human trafficking〉

However, the publicly released indictment describes a shocking reality (the following summary is taken from the indictment, within 〈〉).

〈They built a massive facility in Cambodia, surrounded by high walls and barbed wire, resembling a forced labor camp. There, they imprisoned thousands of people gathered through human trafficking and operated an organized phone farm. They constructed a system to automatically control thousands of smartphones and millions of phone numbers, forcing the imprisoned workers to send messages indiscriminately to targets around the world. Furthermore, Chairman Chen allowed the torture of workers who failed to meet quotas and left records instructing subordinates specifically not to beat them to death because they could no longer be used as labor.〉

〈Their criminal proceeds were laundered through ostensibly legitimate businesses such as real estate development and financial services, and a corporate network spanning more than 30 countries worldwide functioned as a laundering apparatus.〉

The U.S. Department of Justice has identified approximately $15 billion (about ¥2.25 trillion) worth of Bitcoin from assets managed by Chairman Chen. These assets have already been placed under U.S. government control, and the DOJ has filed the largest forfeiture lawsuit in history.

Additionally, Singapore police reportedly seized assets owned by Chairman Chen, including 11 luxury cars, yachts, and real estate, totaling over 150 million Singapore dollars (about ¥17 billion).

It is highly likely that such a vast criminal organization had even infiltrated Japan. Returning to the story from the beginning:

In December 2022, Wang served as the main speaker at an event held at Happo-en. The event was called the “Cambodia Prince Real Estate Group Tokyo Presentation.” The organizer, “Prince Real Estate Group,” is the real estate division of the Prince Group led by Chairman Chen. Wang, as CEO of the Japan branch called “Prince International Real Estate,” promoted purchases of high-end Cambodian condominiums such as “Happiness Plaza.”

Attendees included Japanese investors and business executives. A consulting firm executive who participated in the event recalled the scene:

“I attended out of curiosity since it was a Cambodian company’s event. The venue was lined with Prince Group’s crown logo, and I think Wang was talking about expanding real estate business in Japan and investing in Cambodia. There were several people who appeared to be executives of the Prince Group. I assumed Wang was the top person and exchanged business cards, but there was one young man who looked like an executive. Looking back now, that man may have been Chairman Chen.”

Used Japan-Cambodia Association

At this event, a Japanese association with high public credibility also participated.

“The secretary-general of the ‘Japan-Cambodia Association’ gave a speech on stage, so I wondered if the association was sponsoring the event,” said the business executive.

The General Incorporated Association Japan-Cambodia Association was established in 1963. A former Japanese ambassador to Cambodia serves as its chairman, Masahiko Takamura is honorary chairman, and the board includes prominent figures such as former foreign ministers and Takaharu Ando, a former commissioner-general of the National Police Agency—a highly reputable organization.

Given its long-standing history, why did such an association give a lecture at a Prince Group event?

FRIDAY Digital sent a questionnaire to the Japan-Cambodia Association asking about the circumstances under which the secretary-general spoke at the event and the association’s relationship with the Prince Group. The association’s secretariat responded as follows:

“All the information our association can provide on this matter has already been provided. Official documents are complete, and we will not respond to any additional questions or new inquiries.”

The official documents the association refers to appear to be releases published on its website concerning the withdrawal of the Prince Group’s related companies (Japan branch). When further asked about the Prince Real Estate, which organized the Happo-en event, or the relationship with Chairman Chen of the Prince Group, the association stated:

“We cannot respond to any further inquiries, including specifying individual company names or answering additional questions.”

As a result, this publicly respected association, which includes politicians and former bureaucrats, effectively participated in an event hosted by an organization suspected of serious criminal involvement—but the true circumstances were never revealed.

Wang, who had spoken passionately at Happo-en, was arrested by Taiwanese prosecutors in November 2025. Wang had also been serving as the general manager (CEO) of Taiwan Prince, the Prince Group’s Taiwan branch.

Arrest in Taiwan and the Base in Tokyo, Aoyama

The charges include laundering criminal proceeds. It is alleged that money defrauded in Cambodia was transferred to Taiwan via cryptocurrencies and other means, and then used for real estate purchases and online gambling businesses. Taiwanese authorities seized real estate and luxury cars worth approximately 4.5 billion Taiwan dollars (around 20 billion yen).

What is particularly shocking is the existence of a Japanese base.

Among the executives arrested in Taiwan alongside Wang was a man named Lin Yangmao, who had served as a director of the Prince Group’s Japanese affiliate, Prince Japan.

This company had been a member of the Japan-Cambodia Association from June 2023 until the problems came to light in October 2025. This raises suspicions that Taiwan and Japan may have functioned as a unified laundering route for the Prince Group.

Furthermore, it has been revealed that Chairman Chen himself, the head of the group, maintained a base in Minato Ward, Tokyo.

The location is an ultra-luxury condominium in the prime area of Kita-Aoyama. According to the registration records, Chen had his residence there starting January 2024.

Was the purpose of their Japanese expansion to launder illicit money obtained through fraud by investing it into legitimate real estate development—a classic money-laundering scheme? Or was there another objective?

The above summarizes the content of the article published on December 17, 2025.

With Chairman Chen’s arrest, the situation is poised for significant developments. It is hoped that the truth will be fully revealed in the future.