The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned four individuals and 41 entities supporting the previously designated Prince Group Transnational Criminal Organization. The action targets corporate and financial structures used to conceal assets, evade earlier sanctions and sustain operations involving cyber fraud, money laundering and human trafficking. Separately, OFAC designated Malaysian national Chui Kok Wa, whose scam network in Madagascar defrauded U.S. victims of more than USD 400,000 equivalent, including digital assets. The Prince Group designations build on sanctions imposed in October 2025 and June 2026. Targets include Qiu Yong, who controls companies in the British Virgin Islands and Hong Kong on Prince Group’s behalf, and his assistant Zhao Mengyao, who provides corporate administration services. Other targets include He Yujing, who received ownership of a Tokyo mansion from her husband, previously designated executive Chen Bo, after the October 2025 sanctions. The measures also cover associate Visal Pang and companies controlled by him and other previously designated executives across several jurisdictions. The designations block the targets’ property and interests in property in the United States or under U.S. persons’ possession or control, with reporting required to OFAC. Entities owned directly or indirectly, individually or collectively, 50% or more by blocked persons are also blocked. Unless licensed or exempt, transactions involving blocked property by U.S. persons or within or transiting the United States are generally prohibited. Sanctions violations can trigger civil or criminal penalties, and OFAC may impose civil penalties on a strict liability basis.
US Treasury expands Prince Group sanctions to 45 network targets and designates a Malaysian scam operator
The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated four individuals and 41 entities supporting Prince Group’s corporate and financial network, extending earlier sanctions against structures used to conceal ownership, preserve assets and evade restrictions. A separate designation targets Malaysian national Chui Kok Wa for leading a scam network in Madagascar that defrauded U.S. victims of more than USD 400,000 equivalent. The measures block property under U.S. jurisdiction and generally prohibit U.S. dealings with the targets, including entities owned 50% or more by blocked persons.