Singapore Police have arrested three Singaporeans in a money laundering probe linked to the transnational scam syndicate Prince Holding Group.
Investigations into Prince Holding Group, its founder and Chairman Chen Zhi, and related associates began in 2024.
In October 2025, police conducted islandwide enforcement operations targeting individuals linked to the group.
Authorities seized or issued prohibition of disposal orders on assets worth more than S$150 million, including a yacht, 11 cars and bottles of liquor.
No arrests were made then as Chen Zhi and several associates were not in Singapore.
Chen Zhi was reportedly arrested in Cambodia in January 2026 and extradited to China at the request of Chinese authorities.
Police Expand Probe and Asset Seizures
Police arrested three individuals between November 2025 and January 2026 for suspected money laundering linked to the case.
Tan Yew Kiat, a 49 year old Singaporean and director of SRS Auto Holdings Pte Ltd, was arrested on 20 November 2025 under Section 54(3) of the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992.
Police also issued prohibition of disposal orders on vehicles registered under SRS Auto.
Nigel Tang Wan Bao Nabil, a 32 year old Singaporean, was arrested on 11 December 2025 after returning to Singapore from Cambodia.
Yeo Sin Huat Alan, a 53 year old Singaporean, was arrested on 12 January 2026 after returning to Singapore from Cambodia.
Police have also issued a warrant of arrest for Chen Xiuling, also known as Karen Chen, a 43 year old Singaporean woman, for offences linked to falsifying accounts and attempted cheating.
She left Singapore before the October 2025 operations and is believed to be in Cambodia.
Authorities also issued additional prohibition of disposal orders against three properties and eight cars, and seized cash, bank and securities accounts, luxury bags and watches valued at about S$350 million.
The total value of assets seized or restricted in the case now exceeds S$500 million.
Money laundering offences under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act carry penalties of up to 10 years’ imprisonment, a fine of up to S$500,000, or both.
Peggy Pao, Director of the Commercial Affairs Department, said,
“The arrests and extensive scale of assets seized in Singapore underscore the police’s resolve to take swift and decisive enforcement action against individuals and corporate entities that seek to exploit Singapore’s financial system for criminal activities.”
Featured image: Edited by Fintech News Singapore, based on image by tehcheesiong via Freepik
