SINGAPORE, Oct 16 — An independent director of the Singapore-listed live-streaming company 17Live Group has resigned after she was added to a US sanctions list for her alleged links to a massive global scam operation.

Karen Chen Xiuling, 43, voluntarily resigned from her role on October 15, the same day she was named alongside two other Singaporeans and 17 Singapore-registered entities on the US Treasury’s Specially Designated Nationals list, The Straits Times reported.

This designation effectively bars US persons and companies from conducting any business with them.

The sanctions stem from their alleged involvement with Cambodian national Chen Zhi and his conglomerate, Prince Holding Group. On October 14, US and British authorities accused Chen Zhi of directing a transnational criminal organisation that operated forced-labour scam compounds across Cambodia.

According to a US government statement, individuals held against their will in these compounds were forced to run cryptocurrency investment schemes, known as “pig-butchering” scams, that stole billions of dollars from victims worldwide.

US authorities allege that Chen oversees Prince Holding’s companies in Mauritius, Taiwan, and Singapore and is listed as the ultimate owner of several entities controlled by the group. 

According to a report by The Business Times, she is a director or company secretary in all 17 of the sanctioned Singapore-based firms.

In a Singapore Exchange (SGX) filing, 17Live’s board confirmed it had accepted Chen’s resignation. 

The company stated that while she provided oversight as an independent director, she was “not involved in the business and operations of 17Live.” It also affirmed that it has never done business with Chen, her company DW Capital Holdings, or Chen Zhi.

Following the news, shares of 17Live fell 1.6 per cent. The company, which is backed by Temasek’s subsidiary Vertex Venture Holdings, listed on the SGX in 2023. Chen had served as an independent director since December 2023.