BlockBeats News, April 1st, according to People’s Daily, today, with strong support from relevant authorities in Cambodia, the Chinese Ministry of Public Security dispatched a working group and successfully extradited Li Xiong, a core member of the Chen Zhi criminal group, from Phnom Penh, Cambodia back to China.
Investigation shows that Li Xiong used to serve as the Chairman of the Huiwang Group under the Prince Group, suspected of crimes including running casinos, fraud, illegal business operations, and concealing and disguising proceeds of crime. Currently, Li Xiong has been taken into custody by law enforcement, and the related cases are under further investigation. A relevant person in charge of the Chinese Ministry of Public Security stated that several key members of the Chen Zhi criminal group have been successively apprehended, and the public security organs will continue to intensify their efforts to resolutely capture and bring to justice fugitives.
Previously, U.S. federal prosecutors accused the Prince Group’s Chen Zhi of money laundering and telecom fraud, and in October 2025 revealed that the U.S. had seized 127,271 bitcoins formerly controlled by him, worth $15 billion at the time.
