A Cambodian bank founded by accused scam boss Chen Zhi, who has been indicted by the United States over a multibillion-dollar fraud and extradited to China, was ordered liquidated on Thursday, Cambodia’s central bank said.
Prince Bank “has been placed under liquidation in accordance with the laws of the Kingdom of Cambodia”, the National Bank of Cambodia (NBC) said in a statement.
Prince Bank has been “suspended from providing new banking services, including accepting deposits and providing credit”, the statement said.
The NBC said it had appointed auditor Morisonkak MKA as the liquidator.
Prince Bank is a subsidiary of Chen’s Prince Holding Group, one of Cambodia’s largest conglomerates.
Customers who have deposits at Prince Bank “can withdraw money normally by preparing documents for withdrawal”, and borrowers “must continue to fulfil their obligations as normal”, the NBC added.
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