Singapore police are currently investigating two Chinese nationals involved in the Cambodia Prince Group case for money laundering, with assets linked to the case frozen so far exceeding 600 million SGD (about 1.917 billion MYR).
The Singapore Police Force issued a statement late Tuesday night, saying that as part of the investigation into Prince Group, its founder and chairman Chen Zhi, as well as accomplices and related companies, police are investigating 44-year-old Chinese national Hu Xiaowei and Future Oasis Private Limited for suspected money laundering.
Hu Xiaowei holds three passports issued by Cyprus, Saint Kitts and Nevis in the Caribbean, and Hong Kong. Police have already frozen assets held in his various bank and securities accounts in Singapore as of January this year.
Police also stated that authorities have been actively cooperating with international partners, including U.S. law enforcement agencies, to advance the investigation of the Prince Group case. Earlier, 38-year-old Chinese national Qiu Wei Ren (transliteration, Qiu Wei Ren) was also investigated for possible money laundering offenses.
Qiu Wei Ren holds two passports issued by Cambodia and Saint Kitts and Nevis.
Before police launched operations last October, both Hu Xiaowei and Qiu Wei Ren had already left the country, and currently both are not in Singapore.
The police will continue to work closely with foreign law enforcement agencies to combat criminal activities related to the Prince Group.