Luxury crypto resort left overrun with weeds? Taizi Group is suspected of infiltrating the East Timor program

The Guardian and the Organized Crime and Corruption Reporting Project (OCCRP) report a joint, four-month investigation that reveals that in Timor-Leste—one of the world’s poorest countries—a development project billed as the “world’s first cryptocurrency resort” — AB Digital Technology Resort — appears to be linked to the scam network of the Cambodia Prince Group (Prince Group), which is subject to U.S. sanctions.

A gulf between promotional materials and on-the-ground reality

AB Digital Technology Resort markets the project with luxury villas, a seaside backdrop, and the slogan of being a “global technology elites exchange venue,” while claiming that some of its proceeds will be used for charity. However, when reporters went to the coastal construction site shown in the promotional photos, they found only vacant land—none of the planned facilities exist.

Investigators found that three people involved with the resort project had apparent links to the Prince Group that is subject to U.S. sanctions; these three were removed from the project during the course of the investigation. After the investigative journalists contacted key figures, relevant pages on AB’s official website were taken down one after another. One foreign participant in the project holds a Timor-Leste diplomatic passport; some of the former heads of state cited in the promotional materials deny having made such statements or knowing about the plan. Despite the investigation continuing to gain momentum, the resort company’s shareholders say the development plan will still move forward.

Prince Group: a pig-butchering scam empire behind U.S. sanctions

Prince Group (Prince Group) claims it is involved in real estate and financial services, but last October the U.S. Treasury imposed sanctions on it, accusing it of running a large-scale online scam operation in Southeast Asia. The allegations say the operation relies on human trafficking and modern slavery to keep running, with victims worldwide.

Key facts on Prince Group

Founder: Chen Zhi, who faces charges in the U.S. alleging conspiracy to commit wire fraud and conspiracy to commit money laundering

Bitcoin confiscation: U.S. authorities seized tens of billions of dollars worth of bitcoin

Extradition case: In January 2026, Chen Zhi was extradited from Cambodia to China; widely circulated video shows him being escorted by officers in black tactical gear, and China has not yet announced the specific charges

Primary scam method: “Pig-Butchering” — scammers use fake identities to build trust with victims on social media and messaging platforms over the course of months, then lure them into investing in fake cryptocurrency or financial platforms. After victims see fabricated profit figures, they continue to add investment until all their funds are drained and taken away.

The destructive impact of pig-butchering scams is especially rooted in the high degree of sophistication in emotional manipulation. Before victims suffer financial losses, they often have already formed deep “emotional connections” with the scammers, greatly increasing the level of psychological trauma after investment losses occur.

Timor-Leste’s precarious position: the “most dangerous intersection,” 700 kilometers from Australia

This investigation reveals Timor-Leste’s geopolitical and governance vulnerabilities. Last year, the United Nations issued a formal warning about the risk of scam networks penetrating Timor-Leste, and this investigation suggests that such penetration activities are already under way.

A Timor-Leste government official told The Guardian that this small country, just 700 kilometers from Australia’s mainland, is facing “the most dangerous intersection since gaining independence,” with the risk of becoming a “playground for transnational criminal groups.” The president of Timor-Leste has also publicly said that whether this resort is “a real resort or just talk” is still a question that needs clarification.

Frequently asked questions

What is Prince Group, and why is it sanctioned by the United States?

Prince Group is a multinational corporate group based in Cambodia that claims it operates in real estate and financial services. In October last year, the U.S. Treasury imposed sanctions on it, accusing it of running large-scale online scam operations in Southeast Asia involving human trafficking and modern slavery. Founder Chen Zhi faces allegations of conspiracy to commit wire fraud and conspiracy to commit money laundering, and tens of billions of dollars in bitcoin have been seized by the U.S.

What is a “Pig-Butchering” scam?

Pig-Butchering (in Cantonese also called “杀豬盤”) refers to scammers using fake identities to build trust with victims on social media or messaging apps over the course of months, and then inducing them to invest in counterfeit cryptocurrencies or financial platforms. After victims see fabricated profit figures, they often keep adding investments until the scammers vanish after taking all the funds.

What is the current progress of the investigation into the Timor-Leste crypto resort?

The Guardian and OCCRP’s four-month joint investigation is currently in the nature of investigative reporting. Three people with suspected ties to Prince Group have been removed from the resort project, and AB’s official website also took down related pages during the investigation. The Timor-Leste government has not yet issued an official statement on the matter, while the resort’s shareholders say the plan will still continue to move forward, and further developments are still to come.