US Sanctions 41 Companies Linked to Prince Group Criminal Network
The Treasury Department freezes assets of entities accused of concealing ownership and supporting digital fraud operations.
The United States government imposed sanctions on 41 companies and four individuals on November 5, 2026. The measure aims to dismantle the corporate structure supporting the Prince Group. The US Treasury classified the group as a transnational criminal organization.
Investigations show the network used offshore structures to hide actual ownership and maintain business operations. The group is linked to digital asset investment scams and romance fraud. Many of these activities rely on forced labor in complexes located in Southeast Asia.
Restrictions apply to companies that meet the ownership threshold defined by the Office of Foreign Assets Control. Assets under US jurisdiction must be frozen and reported to the relevant authorities. The 50 percent rule applies to direct or indirect holdings of blocked persons.
Designated individuals include Qiu Yong, Zhao Mengyao, He Yujing, and Visal Pang. The scheme involved entities registered in the British Virgin Islands and Hong Kong. The Treasury detailed ownership paths connecting shell companies to local financial lenders.
This action follows previous sanctions applied in October 2025 and June 2026. Ongoing monitoring seeks to reduce the criminal organization's financial capacity. The listed companies now face severe limitations on operating within the global financial system.
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