The cryptocurrency venture backed by President Donald Trump is facing intense public scrutiny. According to a joint investigation published by the Organized Crime and Corruption Reporting Project and Guardian Australia, a partner of World Liberty Financial has been linked to individuals associated with a heavily sanctioned Cambodian conglomerate. This conglomerate, known as the Prince Group, is notoriously accused of orchestrating massive global online scam operations.
A Controversial Blockchain Resort
The investigation centers heavily on the AB network, a decentralized ecosystem that recently partnered with World Liberty Financial. Reporters uncovered that the AB network was deeply involved in planning a luxurious “blockchain theme resort” in Timor-Leste. Promoted heavily as an exclusive destination for cryptocurrency innovators, the ambitious project was backed by a local development company launched with $10 million in initial capital.
Sanctions and Swift Removals
In October, the U.S. Treasury Department imposed sanctions against Yang Jian due to his alleged conspiracy with Chen Zhi (CEO of Prince Group based in Cambodia) to collaborate on another resort development, which federal officials have deemed a “predatory investment.” The three individuals linked with the Timor-Leste Resort development experience the same sanctions as per government policy for individuals related to projects. These individuals were ousted almost immediately following the announcement from Treasury. Currently, there is no direct evidence indicating that illicit funds flowed into the island project, nor is there definitive proof that the AB network is directly tied to the broader Prince Group.
World Liberty Financial Responds
Despite these alarming connections, the AB network proudly announced its strategic partnership with World Liberty Financial in November. AB took advantage of USD1 as its exclusive platform of choice within the entire AB blockchain ecosystem as a result of this significant partnership with the platform partner. World Liberty Financial was created in 2024 by partners from both the Trump and Witkoff families, and they were very supportive of their company’s internal vetting processes through their legal counsel. They told the media that very extensive due diligence was conducted on World Liberty Financial and that their company had no knowledge of the Timor-Leste Resort or the sanctioned individuals. They completely dismissed claims of any improper business association.
The Shadow of the Prince Group
The criminal allegations surrounding the Prince Group are staggering. Led by Chen Zhi, the massive conglomerate is accused by U.S. authorities of operating one of the largest online fraud networks in the world, generating tens of billions of dollars annually. The scale of modern online fraud is immense; according to the FBI’s 2025 Internet Crime Report, Americans lost nearly $21 billion to internet scams last year, with cryptocurrency fraud making up over $11 billion of that total. In a massive global crackdown, the U.S. government seized $15 billion worth of Bitcoin from Chen last year, and Cambodian authorities ultimately extradited him to China in January.
Opaque Structures and Limited Uptake
As press inquiries intensified, promotional materials for the Timor-Leste development quietly vanished from the AB network’s websites. Investigative reporters eventually identified entrepreneur Lin Xiaofan as a key actor within the network’s highly opaque corporate structure. Lin, who originally spearheaded the resort project, strongly denied any connections to the Prince Group and provided documents showing the development partnership was officially terminated. Despite the swirling controversy, AB continues to tout its high-profile partnership with World Liberty. However, the collaboration has seen minimal financial success so far, with the stablecoin achieving a maximum total supply of just around $3.6 million and a mere 3,000 holders on the AB blockchain.
