Mingchen Shan’s Chonburi crash exposed a vast transnational crime empire linked to Chen Zhi and the fallen Prince Group. The case involves weapons, fake Thai identities, explosives, 4,143 cyber fraud cases, ฿815 million in losses and ฿583 million in seized assets.
What began as a violent Chonburi car crash involving a Chinese man and his girlfriend has exposed a vast transnational crime network stretching from Thailand to Cambodia, involving illegal weapons, fake Thai identity documents, military explosives, thousands of online fraud cases, more than ฿815 million in losses and financial links to the collapsed Prince Group empire of convicted Chinese-Cambodian businessman Chen Zhi. The case has triggered nationwide raids, the seizure of over ฿583 million in luxury assets and a widening cyber police hunt to expose the full scale of the criminal network.
A violent road crash in Chonburi on May 8 appeared at first to be a routine traffic accident. Within weeks, however, it had developed into a far-reaching investigation involving weapons, fake identities, cyber fraud, money laundering and international criminal connections stretching from Thailand to Cambodia.
The investigation centres on Mingchen Shan, a 31-year-old Chinese national. He was travelling with his girlfriend when his Toyota overturned at speed in the Na Chom Thian area of Sattahip district.
Initially, officers considered the possibility that they had encountered a low-level criminal figure. The Toyota had been a former taxi and had been modified before the crash.
Crash in Chonburi involving a Chinese national begins a probe into a vast criminal network
However, the discovery of a Glock 26 pistol changed the direction of the investigation. The firearm immediately raised serious questions about the Chinese man’s activities inside Thailand.
More significantly, police discovered that Mingchen Shan carried a Thai identity card. They also found a Thai household registration document connected to him.
Consequently, the case moved rapidly through senior levels of the Royal Thai Police. Investigators began examining not only the crash but also the suspect’s wider personal and financial connections.
As inquiries expanded, a much darker picture emerged. Police uncovered links involving military-grade weapons, explosives, foreign passports, Cambodian contacts and personnel associated with the Royal Thai Navy.
Therefore, investigators began treating the matter as a national security investigation. The original traffic case had transformed into a major criminal inquiry.
Chinese Embassy’s response and suicide attempt deepen the mystery surrounding the suspect
In response to the developments, the Chinese Embassy in Thailand issued a public statement on May 10. The statement delivered a clear message that Chinese nationals involved in criminal activities would receive no sanctuary.
Meanwhile, the investigation encountered another dramatic development. Mingchen Shan attempted suicide while under police control.
Nevertheless, authorities continued their inquiries while placing him under armed guard. Officers continued examining evidence obtained from the suspect, his properties and his associates.
Subsequent searches revealed a much larger weapons operation. Police discovered military weapons and explosive materials linked to the network.
As part of the investigation, authorities arrested 11 individuals connected to seven criminal cases. However, the weapons discoveries represented only one layer of the operation.
In parallel, financial investigators were tracing transactions linked to Mingchen Shan and his associates. Their findings pointed towards a sophisticated transnational criminal structure.
Financial investigation links Mingchen Shan to Cambodia’s controversial Prince Group empire
Police later determined that Mingchen Shan had significant links to the Cambodian Prince Group network. The organisation had previously been controlled by Chinese-Cambodian businessman Chen Zhi.
Chen Zhi, also known as Vincent Chen Zhi, was identified in the investigation as a convicted criminal and former chairman of Prince Group.
According to the supplied investigation records, the Prince empire collapsed following a United States Federal Bureau of Investigation probe. The investigation led US authorities to seize approximately $15 billion in October 2025.
Following those events, Chen Zhi was extradited to China in January 2026. Thai investigators now believe the financial systems surrounding Mingchen Shan overlap with the wider Prince Group network.
Notably, investigators discovered financial structures worth approximately ฿600 million. This represented a major breakthrough in understanding the scale of the operation.
The findings were formally announced during a June 12 press conference. The event took place at the Cyber Crime Investigation Bureau headquarters in Muang Thong Thani, Pak Kret district, Nonthaburi.
Cyber police reveal Dragon’s Lair operation and assets worth more than ฿583 million
The briefing was led by Pol. Lt. Gen. Surapol Prembutr, Commissioner of the Cyber Crime Investigation Bureau. Several senior officers involved in the operation appeared alongside him.
They included Pol. Lt. Gen. Naradech Thiprak from the Office of the Commissioner-General of Police. Also present was Pol. Maj. Gen. Kantapong Chairungruang from the Office of the Inspector General.
The senior team also included Pol. Maj. Gen. Tinkorn Rangmat, Pol. Maj. Gen. Chachapandakarn Klaiklueng and Pol. Maj. Gen. Siriwat Deepo from the Cyber Crime Investigation Bureau.
During the announcement, police disclosed the results of Operation Dragon’s Lair. The operation represented the largest expansion of the Mingchen Shan investigation.
More than 100 police officers participated in coordinated searches. They raided 14 locations connected to financial assets and network members.
Ten locations were in Bangkok. Three were located in Samut Prakan province. Another target property was located in Chiang Mai.
Luxury homes, vehicles and digital evidence seized during extensive police raids nationwide
During the operation, authorities seized assets worth more than ฿583 million. The seized property included luxury houses, villas, condominiums and expensive vehicles.
Additionally, officers confiscated land title deeds and substantial digital evidence. Investigators continue analysing computers, electronic devices and financial records.
Separately, cyber investigators examined the origins of the broader scam network. Their findings showed the operation dated back to at least 2021.
Victims were first approached through social media platforms. Criminals developed relationships with targets before introducing investment opportunities.
Afterwards, victims were persuaded to transfer money into fake digital investment platforms. The schemes operated as hybrid scams combining social manipulation and financial deception.
Police connected five major cases to the network. These included Criminal Case No. 462/2021 at Din Daeng Police Station.
Police trace the scam operation back to 2021, with victims targeted through social media
The related cases also included Criminal Case No. 727/2021 at Nong Kham Police Station in Chonburi.
Furthermore, investigators linked Criminal Case No. 1471/2022 at Bang Khen Police Station and Criminal Case No. 452/2022 at Sala Daeng Police Station.
Another complaint had been filed with the Cyber Crime Investigation Bureau Division 2. Investigators found the separate cases shared the same financial pathways.
Although different investment platforms were used, the money moved through a common structure. Victims’ funds passed through nominee accounts and digital asset channels.
Later, the money travelled through underground financial systems. It eventually reached financial managers and high-level beneficiaries.
As a result, investigators concluded that multiple complaints formed a single transnational organised crime operation.
On another front, officers conducted a detailed analysis of banking information and digital asset transactions. They examined the financial records of suspects from all five hybrid scam cases.
Banking records expose hundreds of millions flowing through the alleged criminal organisation
The evidence eventually converged on Mingchen Shan. Investigators found more than ฿100 million entered his accounts.
The transfers came from individuals of the same nationality within the criminal network. Police also discovered connections to asset holders and financial managers.
Moreover, investigators connected the organisation to 4,143 online crime cases. Reported financial losses exceeded ฿815 million.
The scale of the operation forced the Royal Thai Police to involve multiple agencies. Their task was to map the full financial structure behind the network.
In addition, investigators examined complex layers of nominee accounts, digital assets and underground transfer systems. They believe these mechanisms concealed the ultimate beneficiaries.
Over time, police reassessed Mingchen Shan’s role. They no longer considered him a minor participant.
Police identify Mingchen Shan as a senior beneficiary within a transnational crime syndicate
Instead, investigators identified him as a major beneficiary and one of the senior figures in the criminal organisation.
The investigation also revealed connections involving numerous Thai and foreign nationals. It further pointed towards individuals and entities linked with the Prince Group structure.
Based on the evidence, authorities sought court warrants against important targets. These warrants covered locations in Bangkok, Samut Prakan and Chiang Mai.
The raids were led by Pol. Maj. Gen. Tinkorn Rangmat, Pol. Maj. Gen. Siriwat Deepo, Pol. Col. Thianthawat Archanawethang and Pol. Col. Preeda Kongjat.
Together with more than 100 officers, they executed simultaneous operations across the three provinces. The searches focused on assets, financial movements and evidence of wider criminal activity.
Police continue analysing seized evidence as investigators pursue the wider network
Subsequently, investigators continued examining the large quantity of digital evidence collected during the raids. They believe further financial links may emerge.
The Royal Thai Police and the Cyber Crime Investigation Bureau have established a joint working group. The group is now pursuing every aspect of the investigation.
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The case that started with an overturned Toyota has become an international criminal investigation involving weapons, cyber fraud, fake documents, money laundering and hundreds of millions of baht in assets.
For now, investigators continue following financial trails, examining seized evidence and identifying additional individuals connected to the Mingchen Shan network. The investigation remains active as authorities pursue the full structure behind the operation.
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