Singapore Seizes S$600M in Probe of Men Tied to Cambodia's Prince Group

Singapore police are investigating two Chinese nationals for alleged money-laundering offenses connected to Cambodia’s widely sanctioned Prince Group and its chairman, Chen Zhi. The men have been identified as 44-year-old Hu Xiaowei and 38-year-old Qiu Wei Ren, according to a police statement.

The statement confirmed that Hu and his associated company, Future Oasis, are subjects in ongoing probes involving the Prince Group, its founder Chen Zhi, and his associates. Hu holds passports from Cyprus, St. Kitts and Nevis, and Hong Kong. "Police had previously seized assets held across his bank and securities accounts in Singapore in January 2026," the statement noted. Both Hu Xiaowei and Qiu Wei Ren had left Singapore prior to the commencement of police operations in October 2025 and are currently not in the country.

To date, the investigation has resulted in the seizure or issuance of prohibition of disposal orders on more than SGD600 million (US$463 million) in cash and assets. The impounded items include three properties, a yacht, and numerous luxury cars, bags, and watches.

The case has international dimensions. The Organized Crime and Corruption Reporting Project (OCCRP), a U.S. non-governmental organization, reported on June 22 that Hu had been arrested in Japan. Together with Kyodo News, OCCRP said he was arrested on suspicion of submitting a fraudulent change-of-address notification, an act violating laws against the use of false electronic official records.

In October 2025, the U.S. Treasury Department imposed sanctions on the Prince Group, Chen Zhi, and his affiliates in a major financial fraud crackdown. More than 100 entities were covered, with registrations in Cambodia, Taiwan, Hong Kong, Palau, Laos, the British Virgin Islands, and the Cayman Islands. Three Singaporeans and 17 Singapore-registered entities were also sanctioned, The Straits Times reported. Authorities accused the Prince Group of wire fraud, money laundering, and human trafficking on an industrial scale.

At the same time, Washington cut the Cambodia-based Huione Group from its financial system, alleging it had laundered at least $4 billion between August 2021 and January 2025. The sanctions fallout led to the arrests of Chen Zhi and Huione Group head Li Xiong by authorities in Phnom Penh in January and April, respectively. Both men were extradited to Beijing.