7Live Director Resigns After Being Sanctioned by US Over Alleged Links to Cambodian Scam Network

SINGAPORE, Oct 16 — 17Live Group independent director Karen Chen Xiuling has resigned after being placed on a US sanctions list for alleged involvement in a global scam network tied to Cambodian tycoon Chen Zhi. The US Treasury’s Office of Foreign Assets Control added Ms Chen, two other Singaporeans, and 17 Singapore-registered firms to its Specially Designated Nationals list.

Cambodian Scam Network

She stepped down voluntarily on Oct 15. Chen Zhi, founder of Prince Holding Group, was charged with wire fraud and money laundering linked to forced-labour “pig butchering” scams that defrauded victims worldwide. 17Live clarified that Ms Chen was not involved in its operations and that the company has no business dealings with her or DW Capital Holdings, where she serves as CFO. Shares of 17Live fell 1.6% following the news. Ms Chen had served as an independent director since December 2023.

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