Singapore Police Expand Asset Seizures in Prince Holding Group Money Laundering Probe

The Singapore Police Force (SPF) has revealed that the total value of assets seized and/or prohibited from disposal in connection with its investigation into the transnational scam syndicate Prince Holding Group and its founder, Chen Zhi, has surpassed S$500 million (approximately US$370 million). This development comes as three Singaporeans have been arrested in recent months for suspected involvement in money laundering offenses related to the case.

Investigation Timeline and Initial Seizures

Investigations into Chen Zhi, his associates, and related companies commenced in 2024. The SPF launched island-wide enforcement operations in October 2025, resulting in the seizure or prohibition of disposal of assets valued at over S$150 million. These assets included a yacht, 11 cars, and multiple bottles of liquor as reported by the Singapore Police Force. At that time, Chen Zhi and his associates were not present in Singapore.

Recent Arrests and Expanded Seizures

Chen Zhi was reportedly arrested in Cambodia in January 2026 and subsequently extradited to China at the request of Chinese authorities. Since then, the SPF has arrested three Singaporeans allegedly involved in money laundering related to the Prince Holding Group between November 2025 and January 2026.

• Tan Yew Kiat, 49, director of car leasing firm SRS Auto, was arrested on November 20, 2025. Prohibition of disposal orders have been issued against vehicles registered under SRS Auto.
• Nigel Tang Wan Bao Nabil, 32, reportedly the captain of a superyacht owned by Chen Zhi, was arrested upon his return to Singapore from Cambodia on December 11, 2025.
• Yeo Sin Huat Alan, 53, was arrested on his return from Cambodia on January 12, 2026.

The recent seizures and prohibition of disposal orders include three properties and eight cars, along with cash, bank and securities accounts, luxury bags, and watches, adding up to an estimated S$350 million in value according to the Business Times.

Prince Holding Group and Transnational Crime

The investigation centers around Prince Holding Group, led by Chen Zhi, which has been linked to a sprawling financial network spanning multiple jurisdictions and illicit funds traced from scam compounds and forced-labor operations as detailed by Fincrimecentral. The case is considered one of the most intricate transnational money-laundering cases of the decade.

Police investigations are ongoing.