Massive Money Laundering Scandal: Singapore Seizes Assets from the Prince Group

In a significant crackdown, Singapore's police forces have confiscated assets valued at over S$150 million from the notorious Prince Group. The network, accused of running vast scam operations, is linked to the Cambodian businessman Chen Zhi. The police reported the seizure, which includes properties and various financial accounts.

This operation follows sanctions imposed by Britain and the United States on the Prince Group, accused of operating large-scale online fraud centers in Southeast Asia using trafficked workers. Investigations into Chen and his associates began in 2024 after receiving crucial intelligence.

The Monetary Authority of Singapore stated it collaborated with law enforcement to address the scandal. The British and U.S. governments have described actions against the group as unprecedented in Southeast Asia, targeting 146 individuals. Past operations in 2023 exposed a $3 billion money laundering scandal involving raids and asset seizures.