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WLFI partner AB Network linked to sanctioned Cambodian scam-related company, reports say
ME News: On April 9 (UTC+8), AB network, which has partnered with the Trump-supported crypto project World Liberty Financial, said that its “blockchain-themed resort” project planned in East Timor involves three individuals who have been sanctioned by the U.S. Treasury. These individuals are linked to Cambodia’s Prince Group, which has been accused of operating a global fraud network.
Company records show that Yang Jian, the major shareholder of the development company, was sanctioned last October for allegedly partnering with Prince Group CEO Chen Zhi. After the sanctions were announced, the three sanctioned individuals were removed from the project. At present, there is no evidence indicating that illegal funds flowed into the development project, nor that AB network has a direct connection to Prince Group.
In November last year, AB network announced that it had established a partnership with World Liberty Financial, authorizing it to use the stablecoin USD1 on its blockchain. World Liberty Financial said it had conducted due diligence on AB and stated that it had not been informed about the resort project or any sanctioned individuals related to the East Timor project. Its lawyers said claims of a connection to the sanctioned individuals are “baseless and untrue.”
According to the FBI’s 2025 Internet Crime Report, the U.S. lost nearly $21 billion last year to online scams, including more than $11 billion in losses related to cryptocurrency-related fraud. Last year, the U.S. government seized $15 billion worth of Bitcoin from Chen Zhi. Cambodian authorities arrested Chen Zhi in January and extradited him to China.
Currently, the maximum total supply of USD1 on the World Liberty Financial blockchain held by AB network is about $3.6 million, with only about 3,000 holders. (Source: ODAILY)