Overview
- Li Xiong, the former Huione Group chairman, was flown from Phnom Penh to China on Wednesday following a joint probe by Cambodian and Chinese authorities.
- China’s Ministry of Public Security says he is suspected of fraud, money laundering, running illegal gambling operations, and hiding criminal proceeds, and state media say he is now under coercive measures.
- Beijing identifies Li as a core member of Chen Zhi’s network; Chen, the Prince Group founder, was extradited in January after Cambodia revoked both men’s naturalized citizenship.
- U.S. financial authorities in 2025 labeled Huione a primary money-laundering concern tied to at least $4 billion in illicit flows, and Cambodia later pulled Huione Pay’s license for operating an illicit online marketplace.
- The case lands as Cambodia touts tougher anti-scam laws and a pledge to close scam centers by the end of April, while UN and rights groups describe compounds that coerce trafficked workers into romance and crypto frauds.