The crackdown on Prince Group
Real talk: the UK government is officially coming for the Prince Group's bag. Authorities just slapped a freezing order on a luxury $12 million penthouse in London that allegedly belongs to Thet Li, the finance chief for the Prince Group. The 39-year-old reportedly dropped £8.9 million on the pad back in 2022, but after an investigation by the Foreign Office, that property is officially locked down.
Li has been on the radar for a minute. The U.S. Treasury sanctioned him back in October 2025, branding him a "de facto illicit finance CFO" who allegedly dealt in bulk cash smuggling and dirty money. The UK followed suit in March, citing his ties to the group’s chairman, Chen Zhi.
Why it matters
The Prince Group is accused of running "industrial scale" online scams, including those brutal pig-butchering investment schemes. The United Nations estimates that over 100,000 people have been trafficked and forced to work in the group's operations.
This isn't just about one penthouse, though. UK authorities have also frozen assets tied to Chen Zhi and his second-in-command, Wu An Ming, including massive mansions and office buildings worth tens of millions. Investigators are also looking to seize over £10 million in watches and jewelry from Li. With the U.S. chasing $14 billion in Bitcoin connected to the group, it's clear the authorities are pulling no punches to shut down this operation. Remember: stay skeptical of high-yield investment "opportunities"—the plot thickens when things look too good to be true, and none of this is financial advice.
