US Treasury Adds Sanctions on Offshore Entities and Asset-Hiding Networks That Helped Prince Group Evade Sanctions

The U.S. Treasury’s Office of Foreign Assets Control on Nov. 5 sanctioned 46 individuals and entities tied to the Prince Group, the transnational crime organization behind billions of dollars in crypto investment and romance scams, for helping it hide assets and evade earlier designations imposed in October 2025 and June 2026. The targets include offshore shell companies and facilitators that managed those entities and concealed true ownership so the group could keep operating after prior sanctions. OFAC said the network let Prince Group-linked operations continue reaching victims in the U.S. and worldwide, who were tricked into sending money or crypto to accounts the organization controlled. The action matters because it extends U.S. enforcement beyond the core group to the offshore concealment layer that sanctions alone had failed to fully cut off. Watch for further designations of shell entities and for whether banks and exchanges tighten counterparty checks on Prince Group-linked flows.