Singapore police seize over S$150 million in assets tied to Prince Group

31/10/2025 16:25

Singapore police have seized over S$150 million ($115.90 million) in assets tied to the Prince Group, a multinational network accused of running vast scam centre operations, the Straits Times newspaper reported on Friday.



The assets include six properties as well as bank accounts, securities accounts and cash tied to the network and the Cambodian businessman Chen Zhi in relation to money laundering and forgery offences, the police said on Friday.



The seizure came after Britain and the United States sanctioned the Southeast Asia-based network, which has been accused of operating large-scale online "scam centres" that used trafficked workers to defraud victims across the globe.



The police added that investigations into Chen and his associates commenced in 2024 after receiving intelligence from the Suspicious Transaction Reporting Office. None of them are currently in Singapore.



In a press release on Friday, the Monetary Authority of Singapore said that it is working with the police to follow up on the case involving the Prince Group.