London penthouse linked to Asian crime cartel seized

By the Editorial Team · Monday, October 12, 2026

UK authorities have frozen luxury assets, including a London penthouse and valuable watches, linked to Li, the alleged finance chief of the criminal syndicate Prince Group accused of laundering up to £46 billion. The seizures are part of ongoing international investigations aiming to dismantle the syndicate’s financial operations, with further legal actions and asset freezes expected.

British authorities have frozen assets linked to a key figure in a major criminal syndicate allegedly responsible for laundering up to £46 billion. The assets include a London penthouse and a collection of luxury watches, said to belong to the purported finance chief of the Prince Group, a criminal organisation under international investigation.

The individual, identified as Li, 39, purchased a 13th-floor penthouse apartment in 2022 for £8.9 million. The property, situated near St James’s Park and within sight of Buckingham Palace and the Houses of Parliament, has since been subjected to a freezing order recorded with the UK Land Registry. In addition to the apartment, UK authorities secured approximately £10.6 million worth of watches and jewellery owned by Li, alongside £92,570 in cash. Officials intend to seek a court extension to maintain the seizure of these assets.

Li previously held a directorship role at an artificial intelligence firm headquartered in Southampton. The company, which he founded, was dissolved earlier this month following scrutiny from the FBI, which designated him a target in October of last year. Li is concurrently under sanctions imposed by both the United Kingdom and the United States, in March and May respectively, due to his alleged involvement in Prince Group’s financial operations.

The investigation extends to Chen Zhi, 38, the chairman of Prince Group, who was extradited from Cambodia to China last year. Financial restrictions have been placed on Chen’s assets in the UK, including a £12 million mansion in St John’s Wood and a £100 million office building in the City of London. Additional orders cover 17 newly constructed flats located in the West End and Nine Elms areas of London.

Prince Group has publicly rejected all allegations, asserting that neither the organisation nor its chairman has engaged in unlawful conduct. In a statement, the group denounced the accusations as “baseless” and suggested they serve as justification for the “unlawful seizure of assets worth billions of dollars.” The statement also expressed concern over the impact on employees, partners, and the communities associated with the organisation.

The ongoing investigations reflect broader efforts by UK and international law enforcement agencies to disrupt sophisticated transnational criminal networks involved in money laundering, fraud, and related financial crimes. Authorities are continuing to explore further asset seizures and legal actions linked to the Prince Group and its leadership.

This article was reported by synthesizing coverage from multiple independent news outlets to present a balanced, unbiased account. Read about our editorial standards. Spotted an error? Let us know.