More than S$600 million in cash and assets, among them three properties, a yacht and a collection of luxury cars, bags and watches, has been seized or frozen in Singapore since March 2026. Police tied all of it to their probe of Cambodia’s Prince Group.
On June 23, the Singapore Police Force named two Chinese nationals it is investigating for alleged money laundering linked to the group and its associates. They are Hu Xiaowei, 44, and Qiu Wei Ren, 38. Qiu appeared the same day on a new sanctions list from the US Office of Foreign Assets Control (OFAC). Police said Qiu came to their attention while they were working with international partners, including US law enforcement.
Neither man is in Singapore. “Both Hu Xiaowei and Qiu Wei Ren had left Singapore prior to the commencement of police’s operations in October 2025,” police said.
Hu Xiaowei
Police are also investigating a company tied to Hu, Future Oasis, as part of the wider inquiry into the Prince Group, its founder and chairman Chen Zhi, and related firms. Future Oasis was incorporated in 2022. Its only shareholder is Future King, registered in the British Virgin Islands, and Hu is said to own that company.
“Police had previously seized assets held across his bank and securities accounts in Singapore in January 2026,” the force said. Hu holds passports from Cyprus, St Kitts and Nevis, and Hong Kong.
OFAC first sanctioned Hu in October 2025 under the alias Chen Xiao’er. Washington described the Prince Group as one of Asia’s largest transnational criminal organisations. Hu has at least two other confirmed aliases, Hu Shi and Wu An Ming, and he held shares in two of Chen Zhi’s companies until at least 2021. A Singapore-based family office linked to him was named in the latest round.
The Organised Crime and Corruption Reporting Project, a US non-governmental organisation, reported on June 22 that Hu had been arrested in Japan. With Kyodo News, it said the arrest was over a suspected fraudulent change-of-address notification, an offence under laws against using false electronic official records.
Qiu Wei Ren and the wider sanctions
Qiu was a director of Fly the Sky International Management, a Singapore consultancy that no longer operates, between 2021 and 2025. The firm began with S$2 million in capital and had five directors holding citizenships from Cambodia, China, Cyprus and Malaysia.
Others named on June 23 include Dai Dewen, who changed his name to Dai An in 2017 when he took Cambodian citizenship. The Straits Times found property records showing that he and his wife own a luxury apartment in Leedon Heights. Brendon Luo, the third man, directs Infinite Deemarco, an investment firm now being liquidated that started with S$5.7 million.
The US Treasury’s October 2025 action hit the Prince Group, Chen Zhi and their affiliates in one of the largest financial fraud take-downs in history. It covered 146 entities, among them three Singaporeans and 17 Singapore-registered companies. Chen Zhi was later arrested in Phnom Penh and extradited to Beijing, as was Huione Group head Li Xiong.
In March, police announced the arrest of three Singaporeans in the same investigation: Tan Yew Kiat, 49, Nigel Tang Wan Bao Nabil, 32, and Alan Yeo Sin Huat, 53. A warrant has also been issued for Karen Chen Xiuling, 43, who is believed to be in Cambodia.
Sources
Sources
- Singapore investigating 2 men linked to Prince Group after US…
- Google News – News about Prince Group • scam – Overview
