UK authorities have frozen a London penthouse owned by Thet Li, the alleged finance chief of Prince Group. The 39-year-old purchased the property near St James's Park for £8.9 million in 2022. The action follows a Foreign Office investigation and sanctions imposed by both the U.S. and UK governments.
The freezing orders extend to other assets linked to Prince Group leadership. This includes a £12 million mansion in St John's Wood and a £100 million office building in the City of London associated with chairman Chen Zhi. Additionally, assets tied to Wu An Ming, including properties worth £30 million and £53 million, have been frozen.
Authorities are also seeking to seize jewelry and watches valued at £10.6 million, along with £92,570 in cash. The U.S. government has previously sought the forfeiture of approximately $14 billion in Bitcoin connected to the group, while a Washington-based strike force has reported $580 million in crypto-related seizures and freezes.
Prince Group has previously denied any involvement in unlawful activities. The organization faces allegations of operating large-scale online fraud and human trafficking, with United Nations estimates suggesting over 100,000 workers are involved in its operations. UK authorities have also sanctioned the crypto marketplace Xinbi as part of these enforcement efforts.
