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As part of ongoing investigations into the Prince Holding Group, its founder and Chairman, Chen Zhi, his associates and related companies, the Police are investigating Hu Xiaowei, a 44-year-old Chinese national, and his associated company Future Oasis Pte Ltd, for money laundering offences under Section 51(1) of the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992. Hu Xiaowei holds passports issued by Cyprus, Saint Kitts and Nevis, and Hong Kong. The Police had previously seized assets held across his bank and securities accounts in Singapore in January 2026.

The Police have also been working actively with international partners, including US law enforcement agencies, to advance ongoing probes into associates linked to the Prince Holding Group. This led to the investigation of Qiu Wei Ren, a 38-year-old Chinese national, for money laundering offences under Section 51(1) of the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992. Qiu Wei Ren holds passports issued by Cambodia and Saint Kitts and Nevis. 

Both Hu Xiaowei and Qiu Wei Ren had left Singapore prior to the commencement of Police’s operations in October 2025, and are currently not in Singapore.

Since March 2026, the Police have issued additional prohibition of disposal orders against three properties and various financial assets, including bank accounts, securities accounts and cash (in various foreign currencies), with a total estimated value of about S$100 million. This brings the total value of assets seized and/or prohibited in relation to this case to more than S$600 million to date.

Police investigations are ongoing. The Police will continue to work closely with our foreign law enforcement counterparts to act against criminal offences linked to the Prince Holding Group.

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