Authorities in Singapore have widened their investigation into alleged money-laundering activities tied to the Prince Group, following mounting global pressure and recent sanctions. As part of the crackdown, the police blocked sale or transfer of vehicles belonging to a car-leasing firm under probe, and froze multiple assets linked to the group.
In late October 2025, the Singapore Police Force (SPF), in cooperation with financial regulators, seized more than S$150 million (approx. US $116 million) in assets tied to Prince Group entities and associates. Seized assets reportedly included bank accounts, securities, cash, six properties — along with luxury items such as a yacht, 11 cars and other valuables.
The crackdown intensified after the US and UK imposed sanctions on Chen Zhi and the Prince network for allegedly running transnational scam operations including forced-labour “scam compounds” in Cambodia used to carry out massive cyber-fraud and money-laundering.
What triggered the new sweep connections to car-leasing firm & offshore money flows
The immediate trigger for the expanded probe was a raid on a Singapore-based car-leasing company named SRS Auto, which investigators believe served as a conduit for laundering funds tied to Chen Zhi’s network. The company’s owner has been detained under suspicion of money-laundering offences.
Financial intelligence units in Singapore had reportedly flagged suspicious transactions tied to the network since 2022. But after new evidence and global coordination — particularly following sanctions and indictments by the U.S. and U.K. — the government moved to clamp down more aggressively.
Global crackdown on Prince Group ripple effects in Southeast Asia
The action in Singapore is part of a broader regional crackdown. Authorities in Thailand recently seized over US$318 million in assets connected to the network, issuing dozens of arrest warrants.
Internationally, the Prince Group and Chen Zhi have drawn sanctions from the U.S. Treasury and other Western governments, with prosecutors describing the network as a sprawling criminal enterprise running cyber-fraud, forced labour camps, cryptocurrency scams, and money-laundering across countries.
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