Another alleged scam boss sent to China

Cambodia has extradited Li Xiong, a former financial executive accused of laundering billions for criminal networks, to China in a move hailed as proof of its determination to crack down on online scams.

Li, once chairman of Huione Pay, is alleged to have been a key figure in the network of Chinese-Cambodian businessman Chen Zhi, who himself was extradited to China in January. Chinese state broadcaster CCTV described Li as a “core member” of Chen’s syndicate, which Western governments have labelled a transnational criminal empire.

The United States and Britain last year imposed sanctions on Chen’s Prince Group and the Huione Group, accusing them of orchestrating online investment scams and laundering proceeds from cyber heists linked to North Korea. The U.S. Treasury’s Financial Crimes Enforcement Network estimates Huione handled at least $4 billion in illicit funds between 2021 and 2025.

Cambodian government spokesperson Touch Sokhak said Chinese experts had assisted in the investigation, leading to Li’s arrest. “This shows Cambodia’s will to clear out online scams and that Cambodia is not a safe haven for scam criminals,” he told Reuters.

China’s foreign ministry welcomed the extradition, with spokesperson Mao Ning pledging continued cooperation with Phnom Penh against cross-border fraud.

The Prince Group has denied any connection to Li or Huione Pay, dismissing allegations as “wild and outrageous claims” without evidence. Huione itself has since been dissolved.

The extradition comes as Cambodia reports a sharp fall in drug-related arrests and seizures in early 2026, underscoring its broader push to present itself as a tougher environment for organised crime.

For Beijing, the case highlights its growing influence in regional law enforcement and its determination to pursue alleged fraudsters abroad. For Cambodia, it is a chance to demonstrate credibility in tackling scams that have tarnished its reputation in recent years.

With Chen already in custody and Li now facing trial in China, authorities are signalling that the era of impunity for cross-border financial crime may be drawing to a close.

-2026-04-02