Treasury Sanctions 45 More Targets Tied to Prince Group, Network Linked to Scam Compounds

Published Nov. 6, 2026. Status is current as of that date.

Many crypto "investment" and romance scams that reach Americans by text and social media are run from compounds in Southeast Asia. On Nov. 5, 2026, the U.S. Treasury Department's Office of Foreign Assets Control (OFAC) announced sanctions on four individuals and 41 entities that it says support the business network of the Prince Group Transnational Criminal Organization (TCO) [1].

Important: This is a sanctions action, not a criminal case. A sanctions designation freezes assets and restricts dealings; it is not a conviction. Treasury says the "ultimate goal of sanctions is not to punish, but to bring about a positive change in behavior." [1] Everything below is Treasury's description, and the people and companies named have not been convicted of anything in connection with it.

What Treasury says

According to the Treasury release [1]:

• The Prince Group TCO was "previously sanctioned by the United States for its role in cyber-enabled fraud, money laundering, and human trafficking." Earlier designations came on Oct. 14, 2025, and June 23, 2026.
• Its affiliates have generated "billions of dollars in illicit proceeds" through "digital asset investment scams, romance scams, and other online fraud" that victimized Americans and others.
• Many operations are linked to scam compounds in Southeast Asia "that rely on trafficked and coerced workers."
• The new designations target offshore companies, nominee directors and service providers that Treasury says helped senior Prince Group officials hide beneficial ownership, evade earlier sanctions and keep access to the financial system.

"Cyber scam syndicates continue to steal billions of dollars from American victims while relying on sophisticated international business networks to launder their illicit proceeds," said Treasury Secretary Scott Bessent [1].

The people named

Treasury's descriptions, in its own words [1]:

• Qiu Yong is "a key Prince Group TCO member who controls multiple BVI and Hong Kong companies on behalf of Prince Group TCO." Treasury says he has served as an employee of a company controlled by Prince Group's leader, Chen Zhi, who was designated on Oct. 14, 2025, and that he owns Hong Kong money-lending firms Premium Financial Limited and Solar Scape Financial Limited through British Virgin Islands companies. It also lists wine-linked companies and several shelf companies.
• Zhao Mengyao, a.k.a. Amy Zhao, is described as Qiu's personal assistant and a company secretary and co-director of multiple Hong Kong companies he controls.
• He Yujing is described as the wife of Prince Group executive Chen Bo, who Treasury says transferred ownership of a Tokyo mansion to her. She is designated for allegedly helping Prince Group, and for owning a Cambodian company, Super Light Speed Kh Technology Co., Ltd.
• Visal Pang is described as a Cambodia-based associate who controls eleven Cambodian companies, several co-directed with Chen Bo.

Treasury also designated Chui Kok Wa, who it says led a network of scammers in Madagascar that defrauded Americans of "over $400,000 equivalent" in digital assets. Separately, The Record reports that Chui was indicted last week; that report is the only source here for the indictment, and we have not confirmed it in court records [2].

Treasury's release does not allege that He Yujing, Zhao Mengyao or anyone else named personally ran a scam compound. It describes their roles as holding property, directing companies or providing services to the network.

Context from news coverage

The Record describes Prince Group as a Cambodian company accused of running a large scam operation, and reports that Chen Zhi was arrested and extradited to China earlier this year, and that his legal status there is unknown [2]. We attribute those details to that report; they are not in the Treasury release.

Red flags of compound-style scams

These are general warning signs, not claims about any person named above.

• A wrong-number text or friendly stranger who builds a relationship, then steers you to crypto trading.
• A trading app or exchange that shows big gains but blocks withdrawals until you pay "taxes" or "fees."
• Pressure to move money into digital assets and send them to a platform you cannot verify.
• Contacts who are always available but never appear live on video.

What to do

• Stop sending money and do not pay "release" fees.
• Keep records: chats, wallet addresses, transaction IDs and screenshots.
• Report it. Treasury's release directs internet crime reports to the FBI; you can file at ic3.gov, and also at ReportFraud.ftc.gov.
• Tell your bank or exchange right away; speed can matter.

Status

Person / entity	Action	Status	Source
Qiu Yong; Zhao Mengyao; He Yujing; Visal Pang	OFAC designation, Nov. 5, 2026 (Executive Order 13581, as amended)	Sanctioned; assets blocked; no criminal charges stated in the release	[1]
41 entities (e.g., Premium Financial Limited, Solar Scape Financial Limited)	OFAC designation, Nov. 5, 2026	Sanctioned	[1]
Chui Kok Wa	OFAC designation, Nov. 5, 2026 (Executive Order 13694, as amended)	Sanctioned; indictment reported by The Record, not confirmed here	[1], [2]

Designations can be challenged or removed. Statuses can change.

Sources

1. U.S. Department of the Treasury, "Treasury Targets Global Scam Networks and the Corporate Infrastructure That Enables Them," Nov. 5, 2026. https://home.treasury.gov/news/press-releases/sb0683/
2. Jonathan Greig, The Record from Recorded Future News, "US issues more sanctions against Prince Group scam center affiliates," Nov. 5, 2026. https://therecord.media/us-issues-more-sanctions-against-prince-group-scammers

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