Singapore Seizes 2.7 Billion RMB in Assets from Chen Zhi's Prince Group

Odaily News: The Singapore Police Force announced that it arrested three Singaporeans between November last year and January this year on suspicion of involvement in a money laundering case related to the Prince Group. An arrest warrant has also been issued for another Singaporean woman, Chen Xiuling. To date, the total value of Singaporean assets seized or prohibited from disposal in connection with this case has exceeded 500 million Singapore dollars (approximately 2.7 billion RMB). Analysis points out that Singapore possesses a highly developed digital financial environment and a large high-net-worth population, but it is also a breeding ground for scams. Locally, scams have evolved into crimes supported by artificial intelligence and blockchain, with total losses exceeding 1.1 billion Singapore dollars in 2024. (Jiemian News)