Singapore arrests woman tied to Prince Group scam probe
Why it matters: Police say asset seizures and disposal bans in the case now top S$700 million as the wider fraud investigation expands.
Singapore police arrested Chen Xiuling, also known as Karen Chen, at Changi Airport on Nov. 5 and plan to charge her a day later over alleged fraud linked to Cambodia-based Prince Holding Group. Police allege Chen, 44, instigated an officer at Capital Zone Warehousing to falsify an agreement and then used the document in a bid to mislead JTC Corporation over a property lease takeover in September 2022. Chen was a director of several Singapore-registered companies believed to be beneficially owned by Prince founder Chen Zhi, including Skyline Investment Management and Capital Zone Warehousing. Authorities said the broader probe has led to fresh action against 14 properties and about S$100 million in bank and securities accounts, bringing total assets seized or restricted to more than S$700 million.