US and UK Impose Legal and Institutional Sanctions
Club Praising Cambodia Operated by Prince Group
Chairman Chen Zhi Owns "Taiza Complex" Linked to Kidnapping of South Koreans
Former Big Bang member and singer Seungri is praising Cambodia at Prince Brewing located in Phnom Penh, Cambodia last year. YouTube capture
As issues such as the kidnapping and confinement of South Koreans in Cambodia become increasingly serious, a video of former Big Bang member and singer Seungri praising Cambodia at a bar in Phnom Penh is being revisited. When the video was first released, the reason for Seungri's visit to Cambodia was not disclosed. However, it has since come to light that the location is a subsidiary of the "Taiza Group," a criminal organization known for kidnapping and torturing South Korean citizens.
Last year, Seungri was filmed at "Prince Brewing" in Phnom Penh, Cambodia, saying, "When I told my friends I was going to Cambodia, they asked if it was dangerous and why I was going. I told them to just shut up and come here to see what kind of country Cambodia is. Cambodia is the best country in Asia." He also boldly claimed that he would bring his former bandmate, singer G-Dragon, to Cambodia.
However, "Prince Brewing" is a brand under Prince Holdings Group and is also a subsidiary of the "Taiza Group," which operates large-scale scam organizations such as the "Taiza Complex." The Taiza Group has been identified as being behind the kidnapping and murder of South Korean citizens, and at its helm is Chinese-Cambodian chairman Chen Zhi.
The United States and United Kingdom governments have begun imposing sanctions on the Prince Group. On October 14, the UK government announced in a statement that it had sanctioned Jinbei Group, which operates leisure and entertainment businesses linked to the Prince Group, as well as the cryptocurrency platform Byex Exchange, which is associated with both Jinbei Group and Prince Group. The "Golden Fortune Resort World" was also added to the sanctions list, with the UK government describing it as a front for a large-scale scam complex on the outskirts of Phnom Penh, constructed by a Prince Group subsidiary and disguised as a technology park.
On the same day, the U.S. Department of the Treasury also designated the Prince Group as a "transnational criminal organization" and imposed a total of 146 sanctions on Chairman Chen Zhi and related companies. The U.S. Department of Justice has indicted Chen Zhi on charges including online financial fraud and money laundering. If convicted, he could face up to 40 years in prison.
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