The National Bank of Cambodia announces the initiation of liquidation procedures for Prince Bank

On January 9th, the National Bank of Cambodia announced yesterday that Taizi Bank, a subsidiary of Taizi Group, has been placed under liquidation and is no longer permitted to conduct banking activities, including accepting deposits or providing loans. In the announcement, the National Bank of Cambodia stated that this decision was made in accordance with the laws of the Kingdom of Cambodia. The National Bank of Cambodia has appointed Morison Kak MKA Audit & Accounting Firm as the statutory liquidator to take full control of Taizi Bank’s operations and asset disposal. According to the announcement, effective immediately, Taizi Bank must cease all new banking activities, including but not limited to opening new accounts or depositing new funds, and stop approving and issuing various commercial and personal loans. The Ministry of Interior of Cambodia confirmed that Chen Zhi and his accomplices Xu Jiliang and Shao Jihui were arrested on January 6th and repatriated to China. The three are suspected of involvement in large-scale cross-border online fraud, and related charges have been filed by U.S. courts. Chen Zhi’s previously held Cambodian nationality was officially revoked by royal decree in December 2025.