Key Figures Flee Hong Kong Firms of Sanctioned Tycoon Chen Zhi

A network of Hong Kong companies linked to recently sanctioned businessman Chen Zhi is unraveling. Auditors and directors are resigning and assets are frozen, company documents show. Chen, a Chinese-Cambodian tycoon, was sanctioned by the U.S. Treasury in December for his alleged role in international crime. The action has triggered immediate fallout for his Hong Kong operations. The documents reveal an interconnected group of firms. They shared directors, addresses, and ties to luxury property. Some had previously appointed well-known international business figures as directors. The resignations and frozen assets raise new questions. They highlight the depth of Chen's operations in Hong Kong and the potential impact of the sanctions. The U.S. sanctions accuse Chen of financing crime groups and human trafficking through his Cambodian casino empire. He has denied the allegations.