Singapore Seizes S$150M Assets Linked to Chen Zhi

On Oct. 30, Singapore police seized and issued prohibition-of-disposal orders on assets worth more than S$150 million linked to Cambodian businessman Chen Zhi and the Prince (Holding) Group, including six properties, bank and securities accounts, cash, a yacht, 11 cars and multiple bottles of liquor. The operation formed part of ongoing investigations into alleged money laundering and forgery and followed financial intelligence from the Suspicious Transaction Reporting Office and coordination with the Anti‑Money Laundering Case Coordination and Collaboration Network. The move followed recent U.S. and U.K. actions: the U.S. Department of Justice has indicted Chen, accusing him of masterminding a sprawling crypto-enabled cyber-fraud enterprise that used trafficked workers in Cambodia, and U.S. authorities have previously confiscated a large amount of Bitcoin reportedly linked to the network. Authorities said Chen and his known associates were not in Singapore at the time, and the seizures are intended to prevent disposal of assets while cross-border investigations continue.