The U.S. Department of the Treasury sanctions 4 individuals and 41 entities associated with the Prince Group

The U.S. Department of the Treasury announced that it will implement a new round of sanctions against 4 individuals and 41 entities associated with the Prince Group's transnational criminal organization. The sanctioned individuals include Qiu Yong, Zhao Mengyao, He Yujing, and Pang Weizhi. Among them, Qiu Yong is accused of representing the Prince Group in controlling multiple companies in the British Virgin Islands and Hong Kong; Zhao Mengyao is Qiu Yong's personal assistant; He Yujing is the wife of Chen Bo, a senior executive of the Prince Group who was previously sanctioned, and Chen Bo had transferred his luxury residence in Tokyo to He Yujing; Pang Weizhi controls 11 companies in Cambodia.

The U.S. Department of the Treasury stated that these sanctions aim to combat the Prince Group's actions of hiding assets and evading previous sanctions through offshore companies, nominee arrangements, and affiliated enterprises. In addition, the U.S. also sanctioned a Malaysian individual, Chui Kok Wa, who is suspected of organizing digital asset fraud in Madagascar, with his fraud network reportedly defrauding U.S. victims of over $400,000.