SINGAPORE, March 5 (Reuters) – Singapore police have announced arrests of three Singaporeans as part of investigations into alleged transnational scam syndicate Prince Group and its founder and chairman, Chen Zhi, who is in Chinese detention.
* Police said the three men were arrested between November2025 and January 2026 for their suspected involvement in moneylaundering offences in relation to the case. * Assets frozen include three properties, eight cars, cashin various foreign currencies, bank and securities accounts andluxury bags and watches, with a total estimated value of S$350million ($274.49 million), police said in a statement onTuesday. * Those arrested were a director of a car leasing companyand two men who were detained upon arrival from Cambodia. Anarrest warrant has been issued for a Singaporean woman believedto be in Cambodia, who is suspected of committing fraud. * Singapore police have so far seized a total of S$500million in assets relating to the case. * The U.S. Justice Department in October indicted Chen forwire fraud conspiracy and money-laundering conspiracy. * Chen was arrested in Cambodia in a joint Chinese-Cambodianoperation in January and sent to China. * U.S. authorities have linked Prince Group, which operatedmore than 100 businesses in 30 countries, to a network ofsprawling scam centres mainly in Cambodia and Myanmar that havedefrauded victims globally. A law firm representing Prince Groupsaid late last year that the conglomerate had not engaged inwrongdoing.
(Reporting by Jun Yuan Yong; Editing by Martin Petty)
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