Singapore police seize yacht, cars, properties worth US$390 million in Prince Group probe

Singapore police have announced arrests of three Singaporeans as part of investigations into ⁠alleged transnational scam syndicate Prince Group and its founder and chairman, Chen Zhi, who is in Chinese detention.Police said the three men were arrested between November 2025 and January for their suspected involvement in money laundering and fraud offences in relation to the case.Each offence is punishable by imprisonment of up to 10 years, a fine or both.Assets frozen include three properties, eight cars, cash in various foreign currencies, bank and securities accounts and luxury bags and watches, with a total estimated value of S$350 million (US$274.5 million), police said in a statement on Tuesday.A yacht believed to belong to Chen Zhi is seized during Singapore police’s investigations into Prince Group. Photo: Singapore Police ForceTan Yew Kiat, director of car leasing company SRS Auto, was one of the men arrested. Police have issued prohibition of disposal orders against vehicles registered under SRS Auto, according to CNA.Nigel Tang, reportedly the captain of a superyacht owned by Chen, and Alan Yeo were both arrested when they returned home from Cambodia.