Chen Zhi’s reported arrest could reshape Cambodia’s political landscape
Thai academic’s analysis argues case reflects mounting pressure on Phnom Penh from both Washington and Beijing, with knock-on effects for Cambodia’s political and business networks.
- The arrest is described as a major political decision by Cambodia's ruling Hun family, driven by intense pressure from both the United States and China, rather than just a crackdown on scams.
- US pressure is linked to Chen Zhi's alleged financial ties to Cuba's state cigar company, which allows Washington to frame Cambodia as a hub for money laundering supporting American adversaries.
- China reportedly pressured Cambodia to hand over Chen Zhi, a close ally, to protect its own international image and the reputation of its Belt and Road projects.
- The move is interpreted as a preemptive gamble by Phnom Penh to ease foreign pressure and avoid more severe US actions, with a supposed US operation in Venezuela cited as a warning.
Kritsada Boonruang, a Thai independent academic based in the US state of Georgia, has published an article analysing on Thursday (January 8) Cambodia’s arrest of Chen Zhi, chairman of Prince Holding Group, and his handover to China on January 7, 2026.
In the piece titled “Resetting the board: the fall of the ‘Chen Zhi empire’ and the ‘Cuba–Cambodia’ plot Washington is moving to destroy”, Kritsada argues that the move marks a turning point in Cambodian politics.
He says it should not be viewed solely as a crackdown on call-centre scams, but as a high-stakes decision by the Hun family under intensifying external pressure, particularly as the United States links transnational cybercrime networks to broader global security strategy.
The “Cuban cigar” link and cross-continental money flows
Kritsada says a key factor drawing heightened US attention to Cambodia is an alleged connection to global business networks, highlighted by claims involving shares in Habanos S.A., Cuba’s major state-linked cigar company.
He asserts that Chen Zhi has been identified as being involved as a nominee or financial backer.
According to the article, Washington could use this angle to frame Cambodia not only as a hub for scammers but also as an intermediary for money laundering and for supporting Cuba’s authoritarian system through cybercrime-linked finance.
Kritsada argues that this narrative would strengthen the US Justice Department’s legal and political basis to escalate countermeasures aimed at disrupting money flows from Asia that, he claims, help US adversaries in the Caribbean.
Pressure from Beijing: “cutting loose” a close ally
Kritsada also contends that China is facing growing international scrutiny and does not want to be seen as backing a state perceived as permissive towards organised crime.
He claims Beijing signalled to Hun Sen, whom he describes as Cambodia’s de facto powerbroker, that Phnom Penh should sacrifice Chen Zhi, portrayed in the article as a close adviser and major sponsor, to protect broader diplomatic ties and the image of Belt and Road projects.
In this reading, once China’s protection appeared to recede, Cambodia had little choice but to hand Chen Zhi over to Chinese authorities to ease pressure before the United States took more direct action.
A warning from the “Venezuela model”
Kritsada points to what he describes as a “shock” operation on January 3, 2026, claiming US special forces arrested Venezuela’s leader on allegations involving drugs and terrorism.
He argues this episode alarmed Phnom Penh and sharpened fears of escalatory US tactics.
He further alleges that the long-standing relationship between Hun Sen and Chen Zhi carries significant financial implications, citing claims that Chen Zhi held a Cambodian diplomatic passport and financed travel, including private flights, for Hun Sen’s entourage to Cuba and the United States in 2022.
The article argues that income from illicit networks may have helped fund private security structures designed to protect the ruling establishment, which Kritsada characterises as the use of criminal money to underpin an authoritarian system.
Marco Rubio and “Cuba” as the main course
Kritsada frames US Secretary of State Marco Rubio as driving a hard-security agenda in which Cuba is the ultimate target.
He portrays US actions in Venezuela and pressure on Cambodian-linked laundering networks as an appetiser, an opening move meant to weaken Cuba’s partners and financial lifelines.
He claims the broader geopolitical payoff would also include increasing pressure on China, including scrutiny around Cambodia’s Ream naval area, which he describes as strategically unacceptable to the US in the Indo-Pacific.
He also suggests that, with the Philippines holding the ASEAN chair this year, regional diplomacy could be used to spotlight Ream as part of a wider contest in the South China Sea.
Conclusion: Hun Sen’s last gamble, as portrayed by the author
Kritsada concludes that handing Chen Zhi to China was an attempt to divert attention from what he argues is Washington’s main course, a larger push to dismantle transnational financial and political networks linked to Cuba and, indirectly, to China.
He warns that if Cambodia does not decisively sever ties with “grey capital” networks and intensify crackdowns, the country could face not only economic sanctions but, in his scenario, possible US military action justified as protecting American interests, which he says would mirror the Venezuela episode he cites.
Background cited in the article
Kritsada highlights a September 2022 visit to Cuba by a Cambodian delegation led by Hun Sen, with Chen Zhi described as travelling as a prime ministerial adviser using a diplomatic passport.
He claims Chen Zhi funded the travel, used private aircraft, and transported valuable “gifts” on the trips.
He also asserts that a Cuban state-linked cigar company was 50% owned by Chen Zhi, and reiterates his central argument that Cuba remains Rubio’s primary strategic focus, while the Venezuela operation served as a test-run for more aggressive measures elsewhere.
In Kritsada’s telling, the Chen Zhi case is therefore not a standalone criminal matter, but part of a wider, fast-moving geopolitical campaign.
