WLFI partner AB Network linked to sanctioned Cambodian scam-related companies

ME News message: April 9 (UTC+8). AB network, which has partnered with World Liberty Financial—a crypto project supported by Donald Trump—has a “blockchain-themed resort” project planned in Timor-Leste that involves three individuals later sanctioned by the U.S. Department of the Treasury. These individuals are linked to the Cambodian Prince Group, which has been accused of operating a global scam network. Company records show that the majority shareholder of the development company, Yang Jian, was sanctioned last October for allegedly collaborating with Prince Group CEO Chen Zhi. The three sanctioned individuals have been removed from the project after the sanctions were announced, and there is currently no evidence indicating that illegal funds flowed into the development project or that AB network has a direct link to Prince Group. AB network announced last November that it had entered a partnership with World Liberty Financial, authorized to use the stablecoin USD1 on its blockchain. World Liberty Financial said it had conducted due diligence on AB and stated it was not informed about the resort project or the sanctioned individuals related to the Timor-Leste project. Its lawyer said claims of a connection with the sanctioned individuals are “baseless and untrue.” According to the FBI’s 2025 Internet Crime Report, Americans lost nearly $21 billion last year to internet scams, including more than $11 billion in cryptocurrency-related fraud. The U.S. government seized $15 billion worth of bitcoin from Chen Zhi last year. Cambodian authorities arrested Chen Zhi in January this year 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 around 3,000 holders. (Source: ODAILY)