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CoinVoice has learned that, according to Red Star News, after the founder of Taizi Group, Chen Zhi, was arrested, the Cambodia Real Estate and Mortgage Loan Business Regulatory Authority (NRPC) on January 12 ordered a suspension of sales activities for five large apartment and residential development projects under its jurisdiction. Buyers who have already signed contracts must still fulfill their contractual obligations, and those who pay in full can apply for property transfer. It is reported that this administrative decision to suspend sales is based on recent major illegal and regulatory violations involving Taizi Group.
In addition, the National Bank of Cambodia has announced that, in accordance with the country's current laws and regulations, it has officially initiated the liquidation process for Taizi Bank.