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The Police have arrested three Singaporeans in connection with ongoing investigations into transnational scam syndicate Prince Holding Group, its founder and Chairman, Chen Zhi, and his associates and related companies.

Investigations into Chen Zhi and his associates began in 2024. In October 2025, the Police mounted island-wide enforcement operations against Chen Zhi and his associates. More than S$150 million in assets, including a yacht, 11 cars and bottles of liquor were seized or placed under prohibition of disposal orders then¹. No arrests were made at that time as Chen Zhi and his associates were not in Singapore. In January 2026, Chen Zhi was reportedly arrested in Cambodia and extradited to China at the request of the Chinese authorities.

The Police have arrested three individuals between November 2025 and January 2026 for their suspected involvement in money laundering offences in relation to this case. 

1. 49-year-old Singaporean man, Tan Yew Kiat, was arrested on 20 November 2025 under Section 54(3) of the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992. Tan is the director of SRS Auto Holdings Pte Ltd (“SRS Auto”). The Police issued prohibition of disposal orders against vehicles registered under SRS Auto.
   
   
2. 32-year-old Singaporean man, Nigel Tang Wan Bao Nabil, was arrested on 11 December 2025 under Section 54(3) of the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992. He was arrested on his return to Singapore from Cambodia.
   
   
3. 53-year-old Singaporean man, Yeo Sin Huat Alan, was arrested on 12 January 2026 under Section 51(1) of the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992. He was arrested on his return to Singapore from Cambodia.

A warrant of arrest has been issued against Chen Xiuling (also known as Karen Chen), a 43-year-old Singaporean woman, for offences of instigating another person to falsify accounts under Section 477A read with Section 109 of the Penal Code 1871 and attempting to cheat under Section 420 read with Section 511 of the same Act. She had left Singapore prior to the commencement of the Police’s operations in October 2025, and is believed to be currently in Cambodia. 

The Police have also issued additional prohibition of disposal orders against three properties and eight cars as well as seized cash (in various foreign currencies), bank and securities accounts, luxury bags and watches with a total estimated value of S$350 million. This brings the total value of assets seized and/or prohibited in relation to this case to date to more than S$500 million.

The offences of money laundering under Section 51 and Section 54 of the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992 are punishable with imprisonment of up to 10 years, or a fine of up to S$500,000, or both.

The offence of instigating another person to falsify accounts under Section 477A read with Section 109 of the Penal Code 1871 is punishable with imprisonment of up to 10 years, or with a fine, or both.

The offence of attempted cheating under Section 420 read with Section 511 of the Penal Code 1871 is punishable with imprisonment of up to 10 years, and with a fine.

Director of the Commercial Affairs Department, Ms. Peggy Pao, said, "The arrests and extensive scale of assets seized in Singapore underscore the Police’s resolve to take swift and decisive enforcement action against individuals and corporate entities that seek to exploit Singapore's financial system for criminal activities. The Police are committed to bringing these criminals to justice and confiscating their ill-gotten gains. It is heartening to see that many jurisdictions have similarly taken enforcement actions in this case. We will continue to work with our foreign law enforcement counterparts and domestic partners to identify and take firm action against actors involved in transnational organised crime, so as to preserve the integrity of Singapore’s financial system.” 

¹https://www.police.gov.sg/media-hub/news/2025/10/20251031_police_seize_assets_and_issue_prohibition_of_disposal_orders

Cars Seized by the Police 









Watches Seized by the Police