Two men linked to Cambodia-based scam syndicate Prince Group investigated for money laundering offences
Both Chinese nationals had left Singapore prior to the commencement of police operations in October 2025 and are currently not in the country.
Exterior of the building that the website of Prince Holding Group on Jan 8, 2026, listed as its headquarters in Phnom Penh, Cambodia. (File photo: AP)
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SINGAPORE: The police have named two Chinese nationals under investigation as part of a wider probe into transnational scam syndicate Prince Holding Group.
The police said on Wednesday (Jun 23) that they are investigating Hu Xiaowei, 44, his associated company Future Oasis and Qui Wei Ren, 38, for money laundering offences.
“Hu Xiaowei holds passports issued by Cyprus, Saint Kitts and Nevis, and Hong Kong. The police had previously seized assets held across his bank and securities accounts in Singapore in January 2026,” said the Singapore Police Force (SPF) in a news release.
Qiu holds passports issued by Cambodia and Saint Kitts and Nevis, it added.
Investigations into Cambodia-based Prince Holding Group’s founder and chairman Chen Zhi, his associates and related companies began in 2024, culminating in October 2025 when police mounted island-wide operations against them.
Chen Zhi was reportedly arrested in Cambodia in January and extradited to China at the request of the Chinese authorities.
“Both Hu Xiaowei and Qiu Wei Ren had left Singapore prior to the commencement of police’s operations in October 2025, and are currently not in Singapore,” said SPF.
As of Wednesday, the total value of assets seized and/or prohibited in relation to the case had reached over S$600 million (US$460 million), said the police.
“Since March 2026, the police 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), with a total estimated value of about S$100 million,” said SPF.
SPF said it had been working actively with international partners, including US law enforcement agencies, to advance ongoing probes into associates linked to the scam syndicate.
This was what led to its investigations of Qiu, it added.
“The police will continue to work closely with our foreign law enforcement counterparts to act against criminal offences linked to the Prince Holding Group,” it said.
Three Singaporeans were arrested between November 2025 and January 2026 on suspicion of being involved in money laundering offences related to the scam syndicate.
An arrest warrant was also issued against a Singaporean woman for offences of instigating another person to falsify accounts and attempting to cheat.
LATEST US SANCTIONS
The US Office of Foreign Assets Control (OFAC) listed Future Oasis and Qiu in its latest round of sanctions related to Prince Group on Tuesday.
Future Oasis, a Singapore-based company, is owned by Future King, which is controlled by Hu and registered in the British Virgin Islands.
Hu was previously sanctioned by the OFAC in October 2025 under one of his aliases, Chen Xiao’er, over his suspected involvement in Prince Group.
He is also known by two other aliases – Hu Shi and Wu An Ming.
Hu has been described as the scam syndicate’s “second-in-command” and as a “big brother” to Chen Zhi, the OFAC said on Tuesday.
Source: CNA/rl(rj)
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