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Singapore seizes US$115 million in assets linked to Cambodian tycoon Chen Zhi

Police said probe into the Prince Group boss started last year after receiving intelligence from the Suspicious Transaction Reporting Office

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Cambodian businessman Chen Zhi. Photo: Prince Holding Group
Reuters
Singapore police have seized more than S$150 million (US$115.90 million) in assets tied to the Prince Group, a multinational network accused of running vast scam centre operations, the Straits Times newspaper reported on Friday.
The assets include six properties as well as bank accounts, securities accounts and cash tied to the network and Cambodian businessman Chen Zhi in relation to money laundering and forgery offences, the police said on Friday.

This seizure came after Britain and the United States sanctioned the Southeast Asia-based network, which has been accused of operating large-scale online “scam centres” that used trafficked workers to defraud victims across the globe.

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The police added that investigations into Chen and his associates commenced in 2024 after receiving intelligence from the Suspicious Transaction Reporting Office. None of them are currently in Singapore.

03:47

Amnesty says Cambodia’s multibillion-dollar scam industry thrives with government blessing

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In a press release on Friday, the Monetary Authority of Singapore said that it is working with the police to follow up on the case involving the Prince Group.

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