Federal agents in New York are turning up the heat on an alleged global scam operation that U.S. officials say has been fleecing victims around the world.
On June 23, 2026, the U.S. Department of the Treasury announced sanctions on nine individuals and 26 entities tied to the Prince Group transnational criminal organization, which U.S. officials say ran scam compounds that targeted victims across the globe. Two days later, the FBI’s New York field office went public on X with a call for tips and an email address for witnesses and victims: [email protected]. That appeal plugs into a broader multijurisdictional effort that has already produced an indictment unsealed in Brooklyn in October 2025 and coordinated actions in Asia and Europe.
According to the U.S. Department of the Treasury, the Office of Foreign Assets Control (OFAC) added the nine people and 26 entities to its sanctions list, naming alleged leadership, investors in so-called scam compounds, and front companies. "Scam centers in Southeast Asia steal billions of dollars from American victims each year," Treasury Secretary Scott Bessent said in a statement, according to the U.S. Department of the Treasury. Treasury said the designations work alongside FinCEN and other agencies to disrupt laundering routes and the financial infrastructure that keep the compounds in business.
Yesterday, @USTreasury sanctioned nine individuals and 26 entities linked to the Prince Group transnational criminal organization for their alleged scam compounds targeting victims in the United States and around the world.
— FBI New York (@NewYorkFBI) June 25, 2026
FBI New York is asking the public to report any information to [email protected].
What the sanctions target
The package singled out Hu Xiaowei, described in reporting as the Prince Group’s "second in command," along with a web of companies used to manage funds, properties, and the shell networks that keep scam compounds running, according to The Straits Times. In the days around the sanctions announcement, authorities in Singapore and Japan also moved to seize assets or detain associates. Reporting and public filings indicate that the designations reach into firms registered in the British Virgin Islands, Hong Kong, and the United Kingdom, illustrating how the network allegedly relied on international corporate structures to obscure ownership.
Brooklyn case and earlier indictment
The Treasury action builds on a criminal case unsealed in Brooklyn on October 14, 2025, that charged Prince Group chairman Chen Zhi with wire fraud and money laundering conspiracies tied to forced labor scam compounds, according to the Department of Justice. That indictment included a civil forfeiture complaint tied to roughly 127,271 Bitcoin and described how victims were allegedly targeted through social messaging and fake investment platforms. DOJ and U.S. Attorney’s Office materials also directed victims and witnesses to contact the FBI at [email protected], the same address promoted by FBI New York this week.
How the sanctions work
OFAC designations add names to the Specially Designated Nationals list, which blocks any property subject to U.S. jurisdiction and generally bars U.S. persons from dealing with the targets, OFAC explained. Treasury said the measures are paired with FinCEN rule proposals that are intended to squeeze the laundering channels that convert stolen cryptocurrency and other proceeds into the formal financial system. Sanctions do not put money back into victims’ pockets, but enforcement officials say they complicate the syndicate’s ability to move funds, buy luxury goods, and sustain overseas scam operations.
If you were targeted
If you believe you were contacted or lost money in an investment scheme, officials say you should file a report with the FBI's Internet Crime Complaint Center at IC3 and consult the FBI's guidance on cryptocurrency investment fraud. In its X post, the FBI’s New York office asked the public to submit tips to [email protected] and urged victims to preserve transaction records, exchange details, and communications for investigators. Victims are also advised to contact their banks and keep records for investigators and for possible civil forfeiture proceedings.
The new round of sanctions keeps pressure on a transnational fraud operation that has run money laundering channels touching New York. For background on the Brooklyn indictment and the alleged scam compounds, see Hoodline’s earlier coverage, Chen Zhi Indicted.
