Singapore Police Seize Over S$500 Million in Assets Following Arrest of Three Local Suspects

Singapore authorities arrest three locals and seize S$500M in assets linked to the Cambodia-based Prince Holding Group scam syndicate.

By: AXL Media

Published: Mar 3, 2026, 9:17 AM EST

Source: The information in this article was sourced from Channel News Asia

Authorities Dismantle Local Network Linked to Transnational Syndicate

The Singapore Police Force has achieved a significant breakthrough in its pursuit of the Prince Holding Group, a Cambodia-based entity accused of orchestrating widespread fraudulent activities. Between November 2025 and January 2026, law enforcement officials apprehended three Singaporean men suspected of facilitating money laundering for the group. This development follows the high profile arrest of the syndicate’s founder, Chen Zhi, who was recently detained in Cambodia and extradited to China. According to Commercial Affairs Department director Peggy Pao, these arrests represent a decisive strike against individuals attempting to utilize the Singaporean financial system for illicit purposes.

Escalation of a Multiyear Financial Investigation

The roots of the current enforcement action trace back to 2024, when Singaporean investigators first began scrutinizing the activities of Chen Zhi and his corporate associates. The probe reached a critical juncture in October 2025 with a series of coordinated island wide raids. While initial operations resulted in the seizure of approximately S$150 million in assets, including liquor and a yacht, the primary suspects remained at large outside the country. The investigation has since matured, allowing police to target specific individuals as they re-entered the jurisdiction, effectively closing the net on the local arm of the operation.

Profile of the Detained Individuals and Their Alleged Roles

The three men currently in custody held diverse roles that allegedly supported the syndicate's lifestyle and financial movements. Tan Yew Kiat, a director of a car leasing firm, was the first to be detained in late 2025, leading to prohibition orders against his company's fleet. He was followed by Nigel Tang Wan Bao Nabil, identified as the captain of a superyacht belonging to the syndicate founder, and Yeo Sin Huat Alan, both of whom were intercepted upon returning from Cambodia. Furthermore, an arrest warrant is active for Chen Xiuling, a woman accused of attempting to cheat and falsifying accounts, who is currently believed to be evading capture in Cambodia.