The Hong Kong Securities and Futures Commission and the Insurance Authority have taken action against the affiliated companies of the Prince Group in the Cambodian fraud case.

The founder of the Prince Group, Chen Zhi, who operates a telecommunications fraud ring in Cambodia, has been sued, sanctioned, and had assets frozen by the United States, Singapore, and several other countries. According to the latest information, the Hong Kong Securities and Insurance Authority has taken action against the associated companies of the Prince Group. Information on the Hong Kong Securities and Insurance Authority website shows that Mighty Divine Investment Management Limited and Mighty Divine Securities Limited, affiliated with the Prince Group, have had their license status temporarily revoked, with a note stating that they have terminated regulated activities. In addition, the Hong Kong Insurance Authority website has updated the licensing conditions for Mighty Divine Insurance Brokers Limited, imposing restrictions including not engaging in any regulated activities and not handling any client or potential client funds without prior written approval from the Insurance Authority, effective from October 28, 2025. Earlier, the United States and British governments jointly sued Chen Zhi for transnational telecommunications fraud and money laundering, with the network involved allegedly swindling $30 million daily. The indictment revealed that the criminal network involved 20 Hong Kong companies and multiple Hong Kong citizens. After the exposure of the case, the movements of the two listed companies held by Chen Zhi in Hong Kong, GEOTECH HLDGS (01707) and KHOON GROUP (00924), have been closely monitored. The chairman of another listed company, FSM Holdings (01721), resigned earlier due to his association with Chen Zhi. In addition, the Singapore police announced at the end of last month that they had seized assets worth 150 million Singapore dollars (approximately 890 million Hong Kong dollars) related to Chen Zhi, the head of the telecommunications fraud ring targeting Chinese residents in Cambodia.