SINGAPORE: The police on Thursday (Oct 30) seized and issued prohibition of disposal orders against six properties and various financial assets worth over S$150 million (US$115 million), as part of forgery and money laundering investigations into Cambodia’s Prince Holding Group and its founder Chen Zhi.
In a news release on Friday, the police said they mounted an enforcement operation at multiple locations islandwide against Chen and his associates in relation to alleged offences of money laundering and forgery.
“As part of the operation, the police seized and issued prohibition of disposal orders against six properties and various financial assets, including bank accounts, securities accounts and cash, with a total estimated value of more than S$150 million,” they said.
“Other assets, including a yacht, 11 cars and multiple bottles of liquor were also subjected to prohibition of disposal orders.”
