As international attention increasingly turns toward Southeast Asia, Cambodia has found itself under growing scrutiny—not only for regional political tensions, but for its alleged role in a far-reaching ecosystem of cybercrime, human trafficking, and organized online fraud. While much of the public discourse has focused on geopolitical instability, a quieter yet more disturbing narrative has emerged beneath the surface.
At the center of this unfolding story stands Bao Xiong, a figure described by multiple regional and investigative sources as one of the most influential casino and property operators in Cambodia. Long shielded by complex corporate structures and cross-border networks, Bao Xiong is now drawing heightened international attention as authorities reassess Cambodia’s position in the global cybercrime landscape.
Cambodia’s Expanding Role in Transnational Cybercrime
Over the past decade, Cambodia has increasingly been identified by international watchdogs as a regional hub for sophisticated online scam operations. These schemes—often referred to as “pig butchering” scams—are designed to exploit victims over extended periods through fabricated romantic relationships or investment opportunities. The financial damage caused by these operations has reached billions of dollars worldwide.
What distinguishes these scams from conventional fraud is their alleged reliance on forced labor. Human rights organizations and survivor testimonies have repeatedly documented cases in which trafficked individuals were confined, abused, and coerced into running scam operations targeting foreign victims. Many of these activities are believed to operate under the guise of legitimate casinos, hotels, and entertainment complexes.
U.S. Sanctions and a Shift in Enforcement Strategy
Recent enforcement actions by the United States government have significantly altered the international response to these activities. Sanctions imposed on financial institutions and conglomerates such as Huione and the Prince Group have signaled a more aggressive stance toward entities suspected of facilitating or profiting from online fraud.
These measures reflect a broader policy shift. U.S. authorities have increasingly emphasized extraterritorial enforcement, particularly in cases where American citizens are targeted. Under the administration of Donald Trump, this approach gained renewed momentum, marking a departure from earlier periods in which foreign-based criminal networks often operated with limited consequences.
Bao Xiong’s Business Empire and Political Connections
Bao Xiong, originally a Chinese national and later naturalized as a Cambodian citizen, has long been regarded as a powerful figure within Cambodia’s casino and real estate sectors. Regional sources frequently describe him as a key operator behind multiple large-scale developments, particularly in coastal regions such as Preah Sihanouk.
Bao is widely reported to maintain close ties with Chen Zhi, a senior figure associated with the Prince Group, which has itself been subjected to U.S. sanctions. These relationships have intensified scrutiny of Bao Xiong’s role within Cambodia’s broader economic and political ecosystem.
Properties Linked to Alleged Scam Operations
Bao Xiong’s network reportedly includes a number of high-profile properties, among them the Xihu Resort Hotel, the Nanhai International Hotel, and the Peninsula Integrated Resort project currently under development in Preah Sihanouk. According to multiple accounts, Bao worked alongside a junior partner, He Cheng, another Chinese national who also obtained Cambodian citizenship.
In recent years, both Bao Xiong and He Cheng are said to have transferred ownership of these properties to trusted associates. While publicly presented as legitimate hospitality or gaming ventures, investigators and advocacy groups allege that some of these sites functioned as operational centers for online fraud.
Following the COVID-19 pandemic, when traditional casino revenues declined sharply, several properties reportedly shifted their operational focus. Survivors and non-governmental organizations claim that certain locations became hubs for cyber scam “call centers,” where trafficked individuals were forced to conduct romance and investment scams under threat of violence.
The Nanhai International Hotel, in particular, has been repeatedly cited as housing individuals involved in such activities, while the Xihu Resort has appeared on monitoring lists tracking suspected cyber scam locations.
Growing Interest From U.S. Law Enforcement
Sources familiar with international investigations suggest that Bao Xiong may now be under active scrutiny by the Federal Bureau of Investigation, potentially in coordination with the U.S. Department of Justice. Although no public indictment or formal charges have been announced, the reported attention reflects a broader reassessment of previously untouchable figures operating beyond U.S. borders.
Analysts note that this development aligns with a growing willingness among Western governments to pursue individuals believed to orchestrate or profit from transnational cybercrime, regardless of where those individuals reside.
The Peninsula Hotel and an Uncertain Future
One of Bao Xiong’s most ambitious projects, the Peninsula Hotel in Sihanoukville, has been promoted as a landmark development intended to symbolize Cambodia’s transformation into a regional tourism and investment hub. Yet mounting international pressure and the prospect of legal exposure have cast uncertainty over the project’s future.
Industry observers are increasingly questioning whether the Peninsula Hotel—or Bao Xiong’s broader portfolio—can withstand sustained enforcement actions, financial restrictions, and reputational damage on the global stage.
A Turning Point for Cambodia
What is becoming increasingly clear is that international tolerance for large-scale online fraud and human exploitation is rapidly diminishing. Governments are coordinating more closely, financial networks are facing deeper scrutiny, and jurisdictions once viewed as safe havens are being forced into transparency.
As Cambodia’s long-hidden criminal infrastructure is gradually exposed, powerful figures such as Bao Xiong are no longer operating entirely in the shadows. Whether this scrutiny results in formal accountability remains uncertain—but the era of quiet impunity appears to be drawing to a close.
