US Sanctions 41 Entities and Four Individuals Supporting Prince Group Network

The US Department of the Treasury's Office of Foreign Assets Control (OFAC) designated four individuals and 41 entities supporting the business network of the Prince Group Transnational Criminal Organization (TCO) on Nov. 6, 2026 ¹. OFAC also separately designated a Malaysian national accused of managing an Africa-based scammer syndicate that targeted US victims ¹.

Prince Group TCO actors have orchestrated digital asset investment scams, romance schemes, and other cyber-enabled fraud that have cost victims billions of dollars worldwide ¹. According to Treasury, many of the operations run out of Southeast Asian scam compounds staffed by trafficked workers, with illicit proceeds laundered through offshore corporate shells, business service providers, and digital asset transactions ¹. The coordinated action included assistance from the FBI, the Justice Department's Scam Center Strike Force, the British Virgin Islands Financial Investigation Agency, and the UK Foreign, Commonwealth & Development Office ¹. The operation builds on previous enforcement coordinated against these networks, expanding the scope of past efforts as detailed when the US and UK sanction Prince Group, sever Huione Group over crypto fraud ¹.

Shell Companies and Nominee Networks

The designations target key facilitators accused of sustaining Prince Group's commercial access following prior sanctions rounds on Oct. 14, 2025, and June 23, 2026 ¹. Treasury highlighted Prince Group member Qiu Yong, who controls holding structures across the British Virgin Islands (BVI) and Hong Kong ¹. Qiu holds passports from Cambodia, St. Lucia, and Türkiye, and has served as an employee of a firm controlled by Prince Group leader Chen Zhi, who was designated on Oct. 14, 2025 ¹.

OFAC blocked 14 corporate entities controlled by Qiu, including Hong Kong-registered money lenders Premium Financial Limited and Solar Scape Financial Limited, wine distribution businesses Glad Vast Limited, Glad Sparkle Limited, and Glad Harvest Limited, and multiple BVI shelf entities ¹. Treasury also designated Qiu’s personal assistant, Zhao Mengyao, for serving as corporate secretary and co-director across Qiu-controlled firms, as well as holding shares in Mighty Divine Trust Hong Kong Limited alongside Qiu ¹. Mighty Divine Trust was designated on Oct. 14, 2025, alongside its director, Zhou Yun, an identified wealth manager for Chen Zhi ¹.