3 Singaporeans arrested in connection with Cambodia-based scam syndicate

SINGAPORE: Three Singaporeans have been arrested in the past few months in connection with investigations into transnational scam syndicate Prince Holding Group, the Singapore Police Force (SPF) said on Tuesday (Mar 3).

Investigations into Prince Holding Group’s founder and chairman Chen Zhi, his associates and related companies began in 2024, culminating in October 2025 when police mounted island-wide operations against them. 

More than S$150 million (US$117 million) in assets, including a yacht, 11 cars and bottles of liquor were seized or placed under prohibition of disposal orders then, though no arrests were made at that time as Chen Zhi and his associates were not in Singapore.

Chen Zhi was reportedly arrested in Cambodia in January and extradited to China at the request of the Chinese authorities.

Police said in a news release that the three individuals suspected of being involved in money laundering offences related to the Prince Holding Group were arrested between November 2025 and January 2026.

Tan Yew Kiat, the 49-year-old director of car leasing firm SRS Auto, was arrested on Nov 20, 2025. The police have also issued prohibition of disposal orders against vehicles registered under SRS Auto.

Nigel Tang Wan Bao Nabil, a 32-year-old man who was reportedly the captain of a superyacht owned by Chen, was arrested on his return to Singapore from Cambodia on Dec 11, 2025.

The third suspect, 53-year-old Yeo Sin Huat Alan, was also arrested on his return from Cambodia on Jan 12, 2026.

An arrest warrant has also been issued against Chen Xiuling, a 43-year-old Singaporean woman also known as Karen Chen, for offences of instigating another person to falsify accounts, and attempting to cheat. 

She had left Singapore prior to the commencement of the police’s operations in October 2025, and is believed to be currently in Cambodia.

Police said they have 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,” said police.

Commercial Affairs Department director 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 those that seek to exploit the country’s financial system for criminal purposes.

“The police are committed to bringing these criminals to justice and confiscating their ill-gotten gains,” she said.

“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”.

Those found guilty of money laundering could face imprisonment of up to 10 years, a fine of up to S$500,000, or both.

Anyone guilty of instigating another person to falsify accounts may be jailed for up to 10 years, fined, or both. 

The offence of attempted cheating is punishable with imprisonment of up to 10 years, and with a fine.