Singapore Police Arrest Suspect Linked to Prince Group Chairman in Money Laundering Raid
Singapore police have arrested Tan Yew Kiat, sole proprietor of SRS Auto Holdings Pte., during a raid on a car loan company with ties to Prince Group chairman Chen Zhi. The suspect is believed to be involved in money laundering offenses, part of a broader investigation into Chen and his associated companies.
Authorities seized over $150 million in assets, including properties, vehicles, and cash, bringing the total value of restrained assets to $165 million. This action follows coordinated sanctions by U.S. and UK authorities targeting 146 individuals and entities linked to Prince Group, described as the largest crackdown on a cybercriminal network of this scale.
Chen Zhi faces allegations of operating scam compounds in Cambodia that defrauded victims of billions. The investigation spans multiple jurisdictions, including Singapore, Hong Kong, and Cambodia, underscoring the global reach of the alleged criminal enterprise.
