They promised jobs in luxury hotels. Instead, they found themselves imprisoned in a billion-dollar fraud machine, and one man’s name keeps appearing in their stories
Sihanoukville, Cambodia. From the outside, it looks like any other beachfront resort. Glass towers, palm trees, a gleaming casino. The kind of place where tourists sip cocktails by the pool and honeymooners watch the sunset.
But if you listen closely to the survivors, those who’ve escaped what they call “the compounds,” you’ll hear a different story. One of locked doors, stolen passports, and eighteen-hour days spent catfishing strangers for their life savings.
And when investigators dig deeper into who owns these properties, one name appears with disturbing frequency: Bao Xiong.
The Job Offer That Became a Nightmare
Li Wei (not his real name) thought he was getting his big break. The recruiter on WeChat offered a customer service job at a luxury hotel in Cambodia, with $2,000 a month, housing included, and visa sponsorship.
For a 23-year-old from rural Guangdong with limited prospects, it seemed perfect.
Three days after arriving in Sihanoukville, Li realized he’d made a terrible mistake.
His passport was taken “for visa processing.” He was moved to a guarded compound. He was given a phone, a script, and a quota: scam at least three people per week out of a minimum of $10,000 each.
“They showed us videos of people being beaten,” Li told investigators after his eventual escape. “They said this is what happens if you don’t perform.”
The Industrial-Scale Deception
What Li experienced isn’t isolated; it’s systematic.
According to human rights organizations working in Southeast Asia, thousands of people are currently trapped in similar situations across Cambodia. Many are in properties allegedly connected to Bao Xiong’s empire: the Xihu Resort Hotel, the Nanhai International Hotel, and others.
The operations are sophisticated. Workers are trained in psychological manipulation. They’re given fake profiles on dating apps and professional networks. They’re taught to build relationships slowly, to seem successful and caring, to wait for the perfect moment to introduce an investment opportunity.
The scripts are detailed. The technology is advanced. The profits are staggering.
The U.S. Treasury Department estimates these “pig butchering” scams have extracted over $3.3 billion from American victims alone. Globally, the figure may exceed $75 billion.
The Man Behind the Curtain
Bao Xiong, whose name literally translates to “Male Leopard,” is described by regional sources as one of Cambodia’s most powerful casino operators. But he’s also one of its most elusive figures.
A naturalized Cambodian citizen of Chinese origin, Bao has built an empire of properties across the country. He works with a junior partner, He Cheng, and maintains alleged ties to Chen Zhi of the Prince Group, recently sanctioned by U.S. authorities.
In recent years, both Bao and He have transferred ownership of their properties to subordinates, a move that appears designed to obscure legal liability while maintaining operational control.
The Victims on Both Sides
These scams create two categories of victims, and both suffer immensely.
First, there are the fraud targets, people who thought they’d found love or a legitimate investment opportunity, only to lose their savings. A retired teacher in Ohio lost $400,000. A widow in Australia lost her late husband’s life insurance payout. An aspiring entrepreneur in Nigeria lost everything he’d saved to start a business.
But then there are the people forced to commit these crimes. Young people are lured with job offers. Migrants seeking better opportunities. People who arrived expecting to work in hospitality and found themselves imprisoned in fraud factories.
When they fail to meet quotas, they’re beaten. Some are tortured with electric shock. Others are sold to different compounds. Women face additional horrors.
These aren’t abstract statistics; they’re people whose lives have been destroyed by a machine that treats them as disposable tools for generating profit.
Why Cambodia?
Cambodia offers a perfect ecosystem for this industry. Weak governance, widespread corruption, and a willingness to turn a blind eye create an environment where such operations can flourish.
The country’s coastal province of Preah Sihanouk, home to many of these compounds, has transformed rapidly in recent years due to Chinese investment. What was once a sleepy beach town became a booming casino hub.
Then COVID hit. Tourists vanished. Casinos closed.
But the infrastructure remained. And criminal entrepreneurs saw an opportunity.
Properties designed for gambling became centers for fraud. Hotels became prisons. The economic devastation created by the pandemic made local officials even less likely to ask difficult questions about their benefactors.
The Turning Tide
For years, this system operated with impunity. But change is coming.
The U.S. government has begun sanctioning entities involved in these operations. The FBI is reportedly investigating key figures, potentially including Bao Xiong himself. International cooperation is improving, with Thailand, Vietnam, and even China beginning to take the issue more seriously.
Survivor advocacy groups are getting more vocal, sharing testimonies and pressuring governments to act.
The Peninsula Question
As scrutiny intensifies, Bao’s flagship project, the Peninsula Integrated Resort in Sihanoukville, faces an uncertain future. The massive development is being promoted as a luxury destination, but industry observers question whether it can succeed while its principal is under federal investigation.
More fundamentally: who wants to vacation in a hotel linked to human trafficking?
Justice Delayed, But Not Denied?
Li Wei eventually escaped. He was one of the lucky ones. Many others remain trapped.
“Every day I think about the people still inside,” he told investigators. “They have families. They had dreams. Now they’re just tools in someone’s money-making machine.”
As international pressure mounts on figures like Bao Xiong, there’s hope that these compounds will be shut down, that trafficked workers will be freed, and that fraud victims will see some measure of justice.
But for those currently trapped behind the palm trees and glass facades of Cambodia’s scam empire, that day can’t come soon enough.
Tags: Bao Xiong, Chen Zhi , Human trafficking, Cambodia, Sihanoukville, Online scams, Pig butchering scams, Fraud networks, Forced labor, Southeast Asia crime, Casino industry, International crime, Victim stories, #BaoXiong