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

South China Morning PostCenter-RightEN 1 min read 100% complete by ReutersMarch 5, 2026 at 07:48 AM

AI Summary

short article 1 min

Singapore police have arrested three Singaporean men between November 2023 and January 2024 for suspected money laundering and fraud related to the Prince Group and its founder Chen Zhi, who is detained in China. The arrests followed investigations into an alleged transnational scam syndicate. Authorities seized assets valued at approximately US$274.5 million (S$350 million), including properties, cars, cash, bank accounts, and luxury items. Among those arrested was Tan Yew Kiat, director of SRS Auto, with disposal orders issued against vehicles registered under the company. Nigel Tang, reportedly a superyacht captain for Chen, and Alan Yeo were also arrested upon returning from Cambodia.

Key Entities & Roles

Key Player Opposition Context

Cambodia 30% Alan Yeo 40% SRS Auto ×250% Nigel Tang 50% Tan Yew Kiat 60% Singapore ×270% Prince Group ×380% Singapore Police Force ×385% Chen Zhi ×390%

Keywords

money laundering 90% fraud offences 80% singapore police 80% asset seizure 70% prince group 70% chen zhi 60% transnational scam 60% financial crime 50% prohibition of disposal orders 40%

Sentiment Analysis

Negative

Score: -0.30

Source Transparency

Source

South China Morning Post

Political Lean

Center-Right (0.50)

Far LeftCenterFar Right

Classification Confidence

90%

This article was automatically classified using rule-based analysis. The political bias score ranges from -1 (far left) to +1 (far right).

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money laundering fraud offences singapore police asset seizure prince group chen zhi transnational scam financial crime prohibition of disposal orders

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