Core Points - Li Thet, executive director of FSM Holdings, resigned after being sanctioned by US authorities for alleged involvement in a Cambodian cyber-scam operation [1][3] - The US Department of the Treasury's Office of Foreign Assets Control (OFAC) linked Li to the Prince Group, identified as a transnational criminal organization involved in online scams, human trafficking, and money laundering [1][2] - FSM Holdings initiated an internal assessment and is seeking professional advice to ensure compliance with laws and regulations following the announcement [3][4] Company Overview - FSM Holdings, listed on the Hong Kong stock exchange since 2018, operates in precision sheet metal engineering and online mobile game development [6] - The company was incorporated in the Cayman Islands and has a market valuation of HK$435 million, with shares closing at HK$0.435 and nearly zero turnover [6][7] - FSM Holdings reported an unaudited loss of US$3.97 million in the first half of this year, a significant increase from a loss of US$413,000 in the same period last year [7] Regulatory Context - The US sanctioned a network of over 115 businesses affiliated with the Prince Group, with 11 registered in Hong Kong, most being offshore shell firms [5] - FSM Holdings itself was not included on the sanctions list, indicating a potential separation from the alleged criminal activities associated with the Prince Group [6]