According to British media reports, UK authorities tracing assets tied to the Cambodian conglomerate over alleged transnational cyber fraud and money laundering have moved against Thet Li (also known as Tian Li). Authorities have frozen high-value assets in Li's name, including luxury watches worth over £10 million and a penthouse at the Kings Gate development on Victoria Street in central London. Li acquired the 310-square-meter four-bedroom duplex in 2022 for £8.9 million; the property features a private roof garden overlooking Buckingham Palace.
The 39-year-old Beijing native held passports from six jurisdictions, including China, Cambodia, Cyprus, Vanuatu, Saint Lucia, and Saint Kitts and Nevis. Li was previously sanctioned by the US Department of the Treasury as a close associate of Chen Zhi, with authorities identifying him as the manager of illicit capital flows and bulk cash smuggling operations. The UK government subsequently placed him under global sanctions, enforcing asset freezes, travel bans, and directorship bans.
Parking illicit earnings from Southeast Asian operations into prime London real estate and luxury collectibles was long considered a reliable sheltering strategy. With regulators methodically tracking fund flows from the top leadership down to the administrative handlers, the cross-border apparatus that once insulated these fortunes is unraveling.
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