UK authorities freeze £12M London penthouse of alleged Prince Group finance chief amid U.S. seizure of $14B in Bitcoin linked to the organization.
Regulation & Gov ·
UK authorities have placed a freezing order on a £8.9 million London penthouse owned by Thet Li, 39, who is identified as the alleged finance chief of Prince Group. The property, located on the 13th floor near St James's Park overlooking Buckingham Palace, was purchased by Li in 2022. Separately, the U.S. is pursuing forfeiture of approximately $14 billion in Bitcoin connected to Prince Group, which has denied engaging in unlawful activity.
Li was sanctioned by the U.S. Treasury in October 2025 and designated by UK authorities in March under human rights sanctions regimes, with officials describing him as a key figure in managing the organization's international financial operations and in bulk cash smuggling. Beyond the penthouse, authorities have also frozen other assets linked to Prince Group leadership, including additional properties in London and homes on the Isle of Man. Seizure orders also target Li's watches, jewelry, and cash totaling approximately £10.6 million and £92,570.
Authorities characterize Prince Group as an industrial-scale fraud operation, with UN estimates suggesting over 100,000 trafficked workers are compelled to operate within its network. A Washington-based task force has reported $580 million in crypto-related seizures and freezes. UK courts are scheduled to rule Monday on whether to extend the freeze on Li's personal valuables, though the full scope of allegations and any formal charges remain under investigation.