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

2026-01-09 01:29:58

BlockBeats News, January 9 – The National Bank of Cambodia announced yesterday that Taizo Bank, a subsidiary of Taizo Group, has been placed into liquidation and is no longer permitted to conduct banking activities, including accepting deposits or providing loans.

The National Bank of Cambodia stated in its公告 that this decision was made in accordance with the laws of the Kingdom of Cambodia. The bank has appointed Morison Kak MKA Audit and Accounting Firm as the statutory liquidation entity to fully take over the operations and asset disposal of Taizo Bank. According to the公告, effective immediately, Taizo 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 6 and repatriated to China. The three are suspected of involvement in large-scale transnational online fraud, with related charges filed by U.S. courts. Chen Zhi’s Cambodian nationality, previously granted, was officially revoked by royal decree in December 2025.

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