SINGAPORE: The Singapore Police Force (SPF) said on Tuesday (March 3) that in connection with investigations into the transnational scam syndicate Prince Holding Group, three Singaporeans were recently arrested.
The statement from SPF’s Public Affairs Department mentioned Chen Zhi, the founder and Chairman of Prince Holding Group, his associates, and related companies. Mr Chen was a Chinese national by birth but acquired Cambodian citizenship. However, Cambodia revoked it in December 2025 after his cyberscam empire was widely reported on. Chen Zhi faces charges in China, the United States, and Taiwan, and is under investigation in Singapore, Thailand, and Hong Kong.
While investigations into his group began in 2024, the SPF launched enforcement operations against Chen Zhi and his associates in October 2025. Since then, over S$150 million in assets, including a yacht, 11 cars, and bottles of liquor, have seized or placed under prohibition of disposal orders, although no arrests were previously made as none of them was in Singapore.
Chen Zhi is said to have been arrested in January in Cambodia and extradited to China at the request of the Chinese authorities.
3 Singaporeans arrested
The SPF said that between November 2025 and January 2026, three Singaporeans were arrested due to suspected involvement in money laundering offences in connection with Chen Zhi’s activities:
One of the arrested men is Tan Yew Kiat, 49, the director of SRS Auto Holdings Pte Ltd. The police have also issued prohibition orders against vehicles registered under SRS Auto. The police arrested him on Nov 20. Next is Nigel Tang Wan Bao Nabil, 32, who was arrested on Dec 11 when he returned to Singapore from Cambodia. The third is Yeo Sin Huat Alan, 53, who was arrested on Jan 12 when he returned to Singapore from Cambodia.
The police added that a warrant of arrest has been issued against 43-year-old Chen Xiuling (also known as Karen Chen), for offences of instigating another person to falsify accounts and attempting to cheat. She left Singapore before the police started their sweep against Chen Zhi’s group and is believed to be in Cambodia at present.
Additional prohibition of disposal orders against three properties and eight cars, as well as seized cash (in various foreign currencies), bank and securities accounts, luxury bags, and watches with a total estimated value of S$350 million, have been issued by the police.
“This brings the total value of assets seized and/or prohibited in relation to this case to date to more than S$500 million,” SPF said.
Individuals found guilty of money laundering may be jailed for up to 10 years, or a fine of up to S$500,000, or both.
The offence of instigating another person to falsify accounts is punishable with imprisonment of up to 10 years, or with a fine, or both; and the offence of attempted cheating is punishable with imprisonment of up to 10 years, and with a fine.
“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. said Ms Peggy Pao, the Director of SPF’s Commercial Affairs Department. /TISG
