Singapore Probes 2 Prince Group Suspects, Seizes Over $600 Million in Assets
Updated
Updated · The Straits Times · Jun 24
Singapore Probes 2 Prince Group Suspects, Seizes Over $600 Million in Assets
3 articles · Updated · The Straits Times · Jun 24
Summary
$600 million-plus in cash and assets — including three properties, a yacht and luxury goods — have been seized or frozen in Singapore's Prince Group money-laundering probe.
Singapore police said they are investigating Chinese nationals Hu Xiaowei, 44, and Qiu Wei Ren, 38, over alleged laundering tied to the Cambodia-based group; both had left Singapore before police operations began in October 2025.
Qiu was named in new US sanctions on June 23, while Hu had already been sanctioned in October 2025 under the alias Chen Xiao'er; police said Hu's bank and securities assets in Singapore were first seized in January 2026.
The case sits within a wider crackdown on Prince Group, which the US designated a transnational criminal organization in 2025, and follows Singapore's March arrests of three citizens linked to the same investigation.
The Prince Group laundered billions via crypto. Can global authorities win the war against digital financial crime?
While leaders face justice, what happens to the thousands trafficked and forced to work in their sprawling scam compounds?
Singapore Seizes S$600 Million in Global Crackdown on Prince Group’s Billion-Dollar Scam Empire
Overview
In June 2026, Singapore Police announced investigations into Hu Xiaowei, Qiu Wei Ren, and the company Future Oasis for alleged money laundering, marking a major step in Singapore’s fight against financial crime. These probes are linked to Cambodia’s Prince Group and its founder Chen Zhi, with investigations starting in 2024 and leading to large-scale police operations in October 2025. Authorities previously seized S$600 million from Hu Xiaowei’s accounts and confiscated luxury assets, including a yacht believed to belong to Chen Zhi. This crackdown highlights Singapore’s commitment to tackling illicit financial flows and protecting its reputation as a clean financial hub.