Investigation Overview
A recent investigation conducted by the Organized Crime and Corruption Reporting Project (OCCRP) and Guardian Australia highlights alarming connections between a company allied with World Liberty Financial—an organization linked to former President Donald Trump—and individuals associated with a Cambodian conglomerate under U.S. sanctions. The Prince Group, which is alleged to be at the heart of one of the largest scam networks globally, has seen its members involved in various fraudulent schemes across Southeast Asia, generating staggering profits supposedly in the tens of billions annually.
Luxury Blockchain-Themed Resort Project
The investigation zeroed in on a proposed luxury blockchain-themed resort project in Timor-Leste, fronted by AB Network—an entity partnered with World Liberty Financial. Three of its affiliates were notably named in the U.S. Treasury’s sanctions, which specifically targeted activities surrounding the Prince Group. Documentation reveals that the principal shareholder of the associated development firm, a Cyprus-based entrepreneur named Yang Jian, was also sanctioned in October for purportedly collaborating on a problematic resort project with Chen Zhi, the CEO of the Prince Group, characterized by authorities as a “predatory investment“.
Following the imposition of these sanctions, the three individuals were promptly removed from the Timor-Leste project, and while no evidence suggests that unlawful funds were involved in the development or that AB Network has direct ties to the Prince Group, the connections raised eyebrows among investigators.
Cryptocurrency Scams and Financial Impact
Scams related to cryptocurrency contributed significantly to an epidemic of online fraud in the U.S., as highlighted in the FBI’s 2025 Internet Crime Report. Last year alone, losses exceeded $21 billion, with cryptocurrency scams accounting for over $11 billion of that figure in more than 181,000 reported cases.
Government Scrutiny and Legal Issues
The expansive operations of the Prince Group, run under Chen Zhi’s leadership, have faced scrutiny from the U.S. government, which last year executed a historic $15 billion seizure of Bitcoin associated with Chen, labeling it the most significant action against online fraudsters. Cambodian authorities arrested Chen and extradited him to China earlier this year.
World Liberty Financial’s Position
World Liberty Financial, established in 2024 by partners connected to the Trump and Witkoff families, has publicly stated that it was unaware of the Timor-Leste project’s links to sanctioned figures. Legal representatives for the firm maintain that their commitment to ethical practices is unwavering and assert that any allegations of misconduct are baseless. The partnership with AB Network was publicized in November, allowing AB to utilize World Liberty’s U.S. dollar-pegged stablecoin, USD1, within its blockchain platform.
AB Network’s Corporate Structure and Ongoing Developments
Despite claiming to be a decentralized network, consisting of an Irish non-profit and entities registered in the Cayman Islands, AB Network’s corporate structure has lacked clarity. The investigation further revealed two additional figures—software developer Sui Chenggang and entrepreneur Lin Xiaofan—who are pivotal to the network’s activities. Lin has been noted for his involvement in the Timor-Leste project while firmly denying any ties to the Prince Group and claiming to have introduced Sui to the leaders of World Liberty Financial.
Promotional content regarding the Timor-Leste development was swiftly removed from AB’s online presence after inquiries began. Lin insisted that the project is ongoing but that AB’s role has ceased, offering proof that the partnership ended in November. In the face of ongoing scrutiny, AB Network still promotes its association with World Liberty Financial and its political advisory network. Nevertheless, initial engagements regarding World Liberty’s stablecoin on AB’s blockchain have yielded modest results, with a total supply capped at approximately $3.6 million and around 3,000 investors. World Liberty Financial has yet to release further comments on the matter, despite multiple requests for clarification.
