UK Freezes $12 Million London Home Tied to Prince Group Case

British authorities have frozen a London penthouse purchased by alleged Prince Group finance chief Thet Li for £8.9 million, expanding action against assets tied to the Cambodian conglomerate as the United States pursues about $14 billion in Bitcoin linked to the group.

The 13th-floor property near St. James’s Park was bought by Li in 2022 for about $12 million. A freezing order was added to the property’s land records.

The action also covers a £12 million London home owned by Prince Group chairman Chen Zhi and a £100 million office building in the City of London. Properties linked to Wu An Ming, described by British authorities as a senior group figure, were also frozen.

British authorities have accused Prince Group of operating large-scale online fraud networks, including romance and investment scams. The group has denied that it or Chen engaged in illegal activity.

Authorities are seeking to extend the detention of Li’s watches, jewelry and £92,570 in cash. The United States has filed to forfeit Bitcoin associated with Prince Group, while Britain sanctioned Li and Chen in March under its global human rights sanctions regime.