UK freezes London penthouse and £10 million of luxury assets belonging to Chinese scam financier
British authorities have placed a freezing order on Thet Li's £8.9 million London penthouse and seized luxury watches and jewellery worth about £10 million.
Thet Li, a 39-year-old described as a key lieutenant of the Prince Group, had his £8.9 million London penthouse frozen by UK authorities after being sanctioned by Britain and the United States for his role in international romance-scam operations. A court order also seeks to keep his collection of watches and jewellery, valued at £10.6 million, along with £92,570 in cash, from being sold. The Prince Group is alleged to have orchestrated "pig-butchering" scams that defraud affluent Westerners, employing over 100,000 trafficked workers according to UN estimates.
Li is accused of managing the group’s global financial network, holding multiple citizenships, and laundering money via the Isle of Man and other offshore assets. Earlier raids on his properties in the Isle of Man and the dissolution of his AI firm in Southampton are part of the broader crackdown on the syndicate’s assets in the UK.
Why it matters
The seizure highlights international efforts to disrupt large-scale fraud networks and prevent illicit money from flowing through Western financial systems.
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