US sanctions 45 targets linked to Prince Group network

The U.S. Treasury announced sanctions on November 5 against four people and 41 companies it said helped sustain Prince Group’s business network and evade earlier restrictions. The action targets alleged offshore corporate and financial facilitators linked to the Cambodia-based group, which the United States has accused of operating an international online-scam network. Treasury said the newly designated individuals and entities provided services including managing offshore companies, concealing their beneficial owners, facilitating commercial activity and supplying administrative or financial support to senior Prince Group executives. The department said these arrangements helped the network continue operating after U.S. sanctions in October 2025 and June 2026. The four individuals are Qiu Yong, Zhao Mengyao, He Yujing and Visal Pang. Treasury said Qiu controlled companies in Hong Kong and the British Virgin Islands and worked for a company controlled by Prince Group founder Chen Zhi. Zhao was identified as Qiu’s personal assistant. Treasury accused He and Pang of holding property for, or directing companies alongside, Prince Group executive Chen Bo. The U.S. action also...