<\/p>\nUS authorities have indicted Chen, a China-born Cambodian citizen<\/p>\n
<\/a>, and accused him of leading a transnational criminal ring that operated a network of scam compounds with enslaved workers.\u00a0<\/p>\n
Prosecutors alleged that Chen and his Prince Holding Group stole from victims of online \u201cpig butchering\u201d operations in the US and other countries, and laundered billions of dollars in illicit funds. <\/p>\n
The US said the 38\u2013year-old is currently \u201cat large\u201d.\u00a0<\/p>\n
Tang, 32, is one of three Singapore citizens who were sanctioned by the US in October for their ties to Chen, the founder and chairman of Prince, the Cambodian conglomerate.<\/p>\n
Tang was the captain of a superyacht called NONNI II that Chen owned, and is a director and operations head of a Singapore-registered company called Warpcapital Yacht Management, according to the US Treasury. <\/p>\n
Chen and his associates held frequent parties on the 53m superyacht, Bloomberg earlier reported, citing a person familiar with the matter.<\/p>\n
Tang is also the head of operations at Capital Zone Warehousing, a Chen-controlled Singapore firm that operated a tax-exempt warehouse for imported alcohol and tobacco products.<\/p>\n
Tang did not respond to a request for comment. Prince has denied the scam allegations.\u00a0<\/p>\n
Since the US unveiled its case against Chen and Prince, the authorities in the city-state and other countries have stepped up their own investigations into the group\u2019s activities.\u00a0<\/p>\n
The Singapore police in late October said they had seized or barred the sale of more than $150 million in assets linked to Chen and his associates. <\/p>\n
They included properties, bank accounts, bottles of liquor, vehicles and a yacht. At the time, the police said Chen and his known associates were not in Singapore.<\/p>\n
At least 15 bank accounts were among the assets seized, according to a court filing seen by Bloomberg News.\u00a0<\/p>\n
Four Singapore companies Chen controls, including his local family office and Capital Zone Warehousing, in November applied to a local court for a limited release of funds from some frozen accounts to pay former and current employees\u2019 salaries and cover legal and other expenses. <\/p>\n
Another US-sanctioned Singaporean, Karen Chen Xiuling, is driving the application, and is currently travelling in Cambodia, according to the document.<\/p>\n
The firms\u2019 legal team argued they face \u201csevere consequences\u201d if they cannot meet their contractual and legal obligations via release of the funds. <\/p>\n
It said in another filing that the firms need to pay outstanding rent despite being evicted from their premises, and they owe salaries to all their employees who have left. <\/p>\n
Only two staff members remain, including Karen Chen.<\/p>\n
Mr Clarence Lun Yaodong, a lawyer representing the four firms, Warpcapital Yacht Management, and Karen Chen, said in response to queries from Bloomberg that a court has heard the application and will decide on the matter.<\/p>\n
Malaysia\u2019s largest bank, Malayan Banking, and Britain-based Revolut held more than US$3.2 million (S$4.13 million) for companies controlled by Chen and his associates, according to a separate filing by prosecutors.<\/p>\n
The various firms also had accounts at Singapore bank OCBC and Malaysia\u2019s RHB Bank which have been seized, according to the affidavit supporting the application. <\/p>\n
In addition, Chen\u2019s companies previously had accounts with Malaysia\u2019s CIMB Group Holdings that have since been closed.<\/p>\n
OCBC declined to comment while RHB said it is unable to comment as the matter is currently under a police investigation. <\/p>\n
CIMB\u2019s Singapore branch said it does not comment on any individuals or entities. <\/p>\n
Revolut said in an earlier statement that it is not able to comment further on a matter before the courts. Maybank did not respond to a request for comment.<\/p>\n
Singapore prosecutors have objected to the request to unfreeze the money. They said in their court submission that the funds \u201care suspected tainted properties\u201d related to suspected criminal activities.<\/p>\n
They said the Commercial Affairs Department \u2013 the police\u2019s white-collar crimes unit \u00a0\u2013 is investigating Chen, his key associates and related companies. <\/p>\n
They also added that Karen Chen and Alan Yeo, another sanctioned Singapore citizen who is the chief executive officer of the family office, did not respond to the department\u2019s requests to be interviewed. BLOOMBERG<\/p>\n<\/div>\n
\n
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