SINGAPORE: The police are investigating Hu Xiaowei, 44, and Qui Wei Ren, 38, for money laundering linked to the Prince Holding Group. Hu holds passports from Cyprus, Saint Kitts and Nevis, and Hong Kong, while Qiu has passports from Cambodia and Saint Kitts and Nevis. The Singapore Police Force seized assets from Hu’s accounts in January 2026, with total asset value linked to the case exceeding S$600 million (US$460 million).
The investigations into the Prince Holding Group, founded by Chen Zhi, began in 2024, with operations escalating in October 2025. Chen was arrested in Cambodia in January and extradited to China. Hu and Qiu left Singapore before the police operations in October 2025. The police are collaborating with international partners, including US agencies, to track down associates involved.
Since March 2026, additional prohibition of disposal orders against various properties and financial assets totaling about S$100 million have been issued. Previous arrests included three Singaporeans suspected of involvement in the syndicate's money laundering.