A £9 million penthouse in Victoria, London, owned by Li Thet, also known as Li Tian, has been frozen in UK sanctions action targeting people linked to Cambodia’s Prince Group, according to the Organized Crime and Corruption Reporting Project (OCCRP). OCCRP reports that the property’s value is about $12 million; that dollar amount is a conversion of the reported pound figure, not a separate official valuation. The available reporting describes an asset freeze, not a confiscation.
Who owns the frozen Victoria penthouse?
OCCRP identifies the owner as Li Thet, also known as Li Tian, and reports that the penthouse is in Victoria, London. The article says the property is worth £9 million (about $12 million). Its accessible text does not establish the exact date of the freeze or identify the legal instrument used.
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Why was the property frozen?
OCCRP reports that Li was among the people targeted in UK sanctions action against individuals linked to Cambodia’s Prince Group. The outlet attributes to the UK Foreign, Commonwealth & Development Office (FCDO) the assessment that Li was a “key lieutenant” of Prince Group leader Chen Zhi and managed the group’s international financial network, including in Taiwan. That is an attributed official assessment, not evidence of a criminal conviction of Li.
The broader context is a UK-US sanctions announcement on 14 October 2025. In that release, the FCDO and Home Office said the targeted network operated illegal scam centres across Southeast Asia. The government described allegations involving forced labour, online fraud and cryptocurrency investment scams. Those are allegations about the network; they do not, by themselves, establish proven conduct by Li.
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Foreign Secretary Yvette Cooper said: “The masterminds behind these horrific scam centres are ruining the lives of vulnerable people and buying up London homes to store their money.” The government’s release also said that its October 2025 sanctions would freeze specified businesses and properties immediately. That statement describes the October action and should not be treated as the legal notice for the later-reported freeze on Li’s penthouse.
What does “frozen” mean here?
The reporting says the penthouse was frozen as part of sanctions action. It does not say the property was permanently seized or confiscated, and it does not establish that ownership changed. Those are different outcomes: an asset freeze is a restriction, while confiscation would require evidence of a separate legal outcome. No such outcome is established in the available reporting.
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How does this penthouse differ from other London properties?
Several properties have appeared in reporting about sanctions linked to the alleged network. They are separate cases, involving different people, dates and reported values.
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| Property | Associated owner or person | Reported value | Reported action and source |
|---|---|---|---|
| Victoria penthouse, London | Li Thet, also known as Li Tian | £9 million (about $12 million) | Reported frozen in later UK sanctions action, according to OCCRP; exact date and legal instrument not established in the accessible article text. |
| North London mansion | Linked by the UK government to the network targeted in its October 2025 action | £12 million | FCDO and Home Office said it was frozen in their 14 October 2025 UK-US sanctions announcement. |
| Fenchurch Street office building, City of London | Property interest linked by the UK government to the network targeted in its October 2025 action | £100 million | Listed by the FCDO and Home Office in their 14 October 2025 announcement. |
| Flats on New Oxford Street and in Nine Elms | Property interests linked by the UK government to the network targeted in its October 2025 action | 17 flats; individual values not stated by the FCDO and Home Office release | Listed by the FCDO and Home Office in their 14 October 2025 announcement. |
| Belgravia townhouse | Registered to Zhao Chen, identified by Caixin as Hu Xiaowei’s wife | £53 million (about $71 million) | Caixin reported a freeze on 18 September 2026; this is a different property from Li’s penthouse. |
The October 2025 government release is evidence for the properties and action it describes, not the legal notice for Li’s later-reported case. Likewise, the Belgravia townhouse reported in 2026 has a different reported owner and location.
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What is established—and what is not?
- Established in OCCRP’s reporting: the Victoria penthouse is attributed to Li Thet (Li Tian), valued at £9 million, and reported frozen in UK sanctions action involving Prince Group-linked people.
- Attributed, not a conviction: OCCRP says the FCDO described Li as a key lieutenant who managed Prince Group’s international financial network.
- Not established in the accessible material: the freeze’s exact date and legal instrument, a confiscation order, or a change in title to the property.
Sources
- OCCRP reporting on Li Thet and the Victoria penthouse.
- FCDO and Home Office announcement, 14 October 2025.
- Caixin Global report, 18 September 2026, on the separate Belgravia townhouse.
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