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Singapore
AsiaSoutheast Asia

3 Singaporeans sanctioned over links to Cambodia’s Chen Zhi scam network

Seventeen Singapore-registered entities have also been sanctioned as part of the US-UK cybercrime crackdown

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Vehicles drive past the Prince International Plaza in Phnom Penh on Wednesday. Photo: AFP
CNA
Three Singaporeans have been sanctioned for alleged links to a fraud empire involving a Cambodian conglomerate and its China-born chief executive, as part of the largest crackdown by the United States and United Kingdom on cybercriminal networks in Southeast Asia.

Of the three, Chen Xiuling, also known as Karen, has resigned from her position as an independent non-executive director at Taiwan-based live streaming platform 17Live Group, based on a company announcement on the Singapore Exchange (SGX) on Thursday.

According to a release on Tuesday by the US Department of the Treasury’s Office of Foreign Assets Control, 17 Singapore-registered entities have also been sanctioned as part of the sweep.

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Checks found that 14 of these entities were registered at the same Singapore address.

A request for comment has been sent to the Singapore Police Force.

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According to the US Department of Justice, authorities seized about US$15 billion in bitcoin in connection with the case – the largest forfeiture action in the history of the department.

Chen Zhi, the CEO and chairman of the Cambodian conglomerate, Prince Holding Group, was charged with wire fraud conspiracy and money laundering conspiracy for directing Prince’s operation of forced-labour scam compounds in Cambodia.
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