Scandal-hit Cambodian tycoon sees more assets seized in Singapore
Singapore’s Commercial Affairs Department is seeking to seize additional assets in Singapore linked to Cambodian tycoon Chen Zhi and his Prince Group after new information surfaced in court. The targeted assets include cheques exceeding S$3.7 million and bonds worth more than US$200,000. Court documents detail the links drawn by authorities between the financial instruments, Chen and entities under Prince Group, as prosecutors invoke Singapore’s anti-money laundering and criminal proceeds laws. The case forms part of a wider cross-border investigation into alleged scam-related activities and the movement of funds through Singapore’s financial system.