Singapore seizes more than US$110 million in assets linked to Chen Zhi
Singapore police seized about US$115.36 million in assets linked to Prince Group chairman Chen Zhi, including properties, accounts, a yacht and vehicles, as a money-laundering and fraud investigation continues.
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Singapore police recently seized assets worth about US$115.36 million linked to Prince Group chairman Chen Zhi as part of an investigation into suspected money laundering and fraud.
In an operation on October 30, police seized six properties, multiple bank and securities accounts, cash, a yacht, 11 vehicles and luxury wines.
The investigation began in 2024 after the Suspicious Transaction Reporting Office identified unusual fund flows. Through international cooperation, and with intelligence recently provided by the United Kingdom and the United States, Singapore launched a joint operation targeting Chen Zhi's network.
Police said Chen Zhi and his associates were not in Singapore. The investigation is continuing.
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