TOKYO (Kyodo) -- The chairman of a Cambodia-based Chinese firm indicted by U.S. authorities over alleged large-scale investment fraud and money laundering had acquired a luxury property in Tokyo as his residence, Japanese corporate registration documents showed Monday.

Chen Zhi, a Cambodian national of Chinese descent who heads Prince Holding Group, established Prince Group in the Japanese capital in 2022 and is believed to have sought long-term residence status in Japan by starting his own business.

The U.S. Treasury Department has described Chen as the mastermind behind one of Asia's largest criminal organizations, putting him on the country's sanctions list on Oct. 14.

The U.S. Justice Department said the same day that it had indicted Chen and filed to seize approximately 127,271 Bitcoin, currently worth $12 billion, alleging they are proceeds and instrumentalities of the defendant's fraud and money laundering schemes. Part of the money may have been laundered into Japan.

Chen had originally registered a location adjacent to the Prince Holding Group headquarters in Phnom Penh, the Cambodian capital, as his residential address. However, in 2024, after establishing Prince Group in Tokyo's Chiyoda Ward, he changed the address to a luxury condominium in the capital's Minato Ward.

A local source in Cambodia said Chen visited Japan frequently. However, none of the residents of the Tokyo condominium contacted by Kyodo News recalled ever seeing him.

According to real estate websites and other sources, all units in the condominium have floor areas of over 150 square meters. Monthly rent is around several million yen, with some secondhand units listed for sale at over 1.6 billion yen ($10 million).

Ten days after the U.S. Justice Department announced it had indicted Chen, his registered address in the Japanese corporate registry was reverted to Phnom Penh.

On Oct. 16, Japan toughened requirements for foreigners entering the country on business manager visas, including increasing the minimum capital investment from 5 million yen to 30 million yen. Chen's company had capital of 5 million yen.