PUBLISHED ONJune 24, 2026 1:09 AMBYSean LerThe police are investigating two Chinese nationals, who are believed to be associates of alleged scam kingpin Chen Zhi, over alleged money laundering offences.
In an update on Tuesday (June 23) night, police said they are investigating the duo as part of ongoing investigations into the Prince Holding Group, its founder and chairman, Chen Zhi, his associates and related companies.
Hu Xiaowei, 44, purportedly holds passports issued by Cyprus, Saint Kitts and Nevis, and Hong Kong. His assets held across banks and securities accounts in Singapore were seized in January this year.
As part of ongoing probes into associates linked to the Prince Holding Group, the police said they have also been working actively with international law enforcement partners, including US agencies.
This led to the investigation of another Chinese national, 38-year-old Qiu Wei Ren, who allegedly holds passports issued by Cambodia and Saint Kitts and Nevis.
According to the police, both Hu and Qiu had left Singapore prior to the commencement of operations in October 2025. They are presently not in Singapore.
Providing an update on its ongoing investigations, police said they have issued additional prohibition of disposal orders against three properties and various financial assets, including bank accounts, securities accounts and cash in various foreign currencies.
The seized assets have an estimated value of $100 million, bringing the total value of assets seized and/or prohibited in relation to this case to more than $600 million to date.
Police also stated that they will continue to work closely with their foreign law enforcement counterparts to act against criminal offences linked to the Prince Holding Group.
Those found guilty of money laundering could be jailed for up to 10 years, fined up to $500,000, or both.
Chen, the alleged head of a Cambodian-based scam empire, was extradited to China from Cambodia on Jan 7. He was shown cuffed at his wrists as he was escorted off a China Southern Airlines flight that day.
In October 2025, the Singapore Police Force mounted islandwide enforcement operations against Chen and his associates, seizing or prohibiting the disposal of over $150 million in assets.
No arrests were made at that time as Chen and his associates were not in Singapore.
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