Thailand, Singapore investigate Chen Zhi’s Prince Group after Western fraud allegations
Investigators are reviewing financial ties to the Prince Group after its chairman was charged by the US with running a cyber fraud empire
Surapol Prembutr, commissioner of the Cyber Crime Investigation Bureau, said Thai officials would work with their US counterparts to review the asset seizure process and legal proceedings involving Prince Holding Group, the Bangkok Post reported.
Singapore police were looking into the case and were in contact with authorities in other countries, the force said in a brief statement on Saturday.
Chen and his associates were involved in setting up a family office in Singapore in 2018, which claimed to receive a tax incentive from the financial regulator. The government agency earlier said it was looking into whether there had been any breaches of its requirements.