Singapore's Major Bust: Prince Group's Scam Unraveled

Singapore police have arrested three Singaporeans linked to the transnational scam syndicate, Prince Group. The group's founder, Chen Zhi, is in Chinese custody and assets worth S$500 million have been seized. The U.S. Justice Department has charged Chen with wire fraud and money laundering conspiracy.

In a high-profile operation, Singapore police have detained three locals connected to the Prince Group, an alleged transnational scam syndicate. This move comes as the group's founder, Chen Zhi, faces detention in China following charges from the U.S. Justice Department for wire fraud and money laundering conspiracy.

The arrests occurred between November 2025 and January 2026, implicating a director of a car leasing company and two others recently returned from Cambodia. Authorities have frozen assets amounting to S$350 million, including properties, luxury cars, and other high-value items.

Prince Group, with over 100 enterprises across 30 countries, has been linked to scam operations primarily based in Cambodia and Myanmar. Despite the charges, the conglomerate asserts its innocence. A Singaporean woman suspected of fraud remains at large, believed to be in Cambodia.

(With inputs from agencies.)