UK freezes assets of alleged Chinese scam syndicate lieutenant in London
The UK authorities have frozen assets belonging to Thet Li, 39, a key lieutenant in a £46 billion Chinese romance scam syndicate. Li was sanctioned by the UK and US for his alleged role in the Prince Group, which operates "pig butchering" fraud schemes—a scam type where victims are deceived into believing they have romantic relationships before being pressured to send money or make fraudulent investments.
Li purchased a four-bedroom London penthouse for £8.9 million in 2022, which now faces a Land Registry freezing order. Authorities are applying to court to seise his luxury watch and jewellery collection valued at £10.6 million, plus £92,570 in cash. The Prince Group allegedly deployed over 100,000 trafficked workers across the Far East, according to UN estimates. Other syndicate members facing asset freezes include chairman Chen Zhi, who was extradited to China, and second-in-command Wu An Ming, reportedly arrested in Japan in June.
- Finance chief of £46 billion scam syndicate has London penthouse frozen.
- UK and US authorities sanctioned Thet Li in March and May.
- Prince Group operated romance scams using over 100,000 trafficked workers.
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"Pig butchering" scams are a type of fraud where victims are manipulated into fake romantic relationships before being pressured to send money or invest in fraudulent schemes. The Prince Group is a large syndicate based in the Far East that has been operating these scams at scale, with authorities estimating it has deployed over 100,000 trafficked workers across the region.
Thet Li is a 39-year-old lieutenant within the Prince Group who played a key operational role in the syndicate. The group was led by chairman Chen Zhi, who has since been extradited to China, and second-in-command Wu An Ming, who was reportedly arrested in Japan in June. The Prince Group is suspected of having generated approximately £46 billion through its various fraud operations.
The case highlights the scale of international organised crime networks that exploit vulnerable people through deception and human trafficking. The Prince Group's operations affect victims across the globe, making the syndicate a target for law enforcement agencies in multiple jurisdictions. The coordinated action between UK and US authorities demonstrates growing international efforts to tackle such networks.
Both sides, in good faith
The strongest fair case each way — we don't pick a winner.
The case for
This represents legitimate and necessary law enforcement against a vast criminal enterprise. Asset freezing is an established legal mechanism to prevent criminals profiting from serious crimes and disrupting trafficking and fraud operations. With evidence of over 100,000 trafficked workers and substantial victim losses, swift action to freeze assets is essential to protect vulnerable people and prevent further exploitation.
The case against
Whilst the alleged crimes are serious, freezing substantial assets without judicial conviction raises fundamental due process concerns. Individuals deserve legal protections and the opportunity to defend themselves through established courts before assets are seized. Such enforcement powers, particularly against foreign nationals, require careful safeguards and proper judicial oversight to prevent misuse or unjust targeting.
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Originally published by Daily Mail as “Finance chief of £46billion Chinese ‘romance scam’ syndicate has his £9million London penthouse and £10m of watches and jewellery frozen by UK authorities”.