SINGAPORE – The sale of a 32,000 sq ft commercial building in the crosshairs of an
ongoing money laundering probe
in Singapore and the US has been taken down just three days after it was listed.
Located in the Bukit Merah vicinity, the property known as 2 Jalan Kilang Barat was put up for sale for some $50 million on Dec 2.
No reasons were offered for the listing’s removal.
Meanwhile, The Straits Times has learnt that the building’s owner – 25-year-old Chen Xiaoxuan – is assisting the Singapore Police Force (SPF) with their investigations into embattled Cambodian businessman Chen Zhi.
Her father, Mr Tan Yew Kiat, 49, was arrested over his suspected involvement in money laundering offences.
Police had raided his office in Kung Chong Road late November in connection with the US probe on Cambodian tycoon Chen Zhi.
Chen Zhi, who is originally from China, heads the Prince Group, which is involved in property development and financial services.
The 38-year-old, and his close advisor Chen Xiuling, or Karen Chen, were named by the US and Britain in sweeping sanctions announced on Oct 14 for their links to wire fraud and money laundering conspiracies, as well as their roles in forced labour scam compounds across Cambodia.
The property 2 Jalan Kilang Barat was identified in the US probe as the address in Singapore for 11 companies directly linked to Chen Zhi, and three companies linked to Chen Xiuling.
