SINGAPORE – A Singaporean man has been arrested for his suspected involvement in money laundering offences connected to Cambodia’s Prince Holding Group, authorities confirmed.
Police said Nigel Tang Wan Bao Nabil, 32, was arrested on Dec 11 upon his return to Singapore. He is suspected of laundering funds linked to Chen Zhi, the founder and chairman of Prince Group, and companies associated with him. Investigations are ongoing.
According to reports, Tang previously served as the captain of a superyacht owned by Chen. Tang was also among three Singaporeans sanctioned in October by the U.S. Treasury Department for their alleged ties to Chen and his business network.
Chen, a British-Cambodian businessman, has been indicted in the United States and is accused of operating forced labour compounds in Cambodia that were allegedly used as large-scale scam centers. U.S. authorities have described Prince Group as a front for one of Asia’s largest transnational criminal organizations.
Prosecutors allege that hundreds of trafficked workers were confined in secured facilities and forced to carry out so-called “pig butchering” scams, a form of cryptocurrency investment fraud that builds trust with victims before stealing their funds.
In October, Singapore police seized more than US$115 million in assets allegedly linked to Chen following coordinated raids across the city-state. Investigators say proceeds from scam operations were laundered through gambling businesses and cryptocurrency mining ventures operated by Prince Group.
Prince Group has denied all allegations. The conglomerate claims to have more than US$2 billion in projects across Cambodia, including major real estate developments in Phnom Penh.
