SINGAPORE: A 44-year-old woman linked to transnational scam syndicate Prince Holding Group was arrested at Changi Airport on Thursday (Nov 5).
Chen Xiuling, also known as Karen Chen, was arrested under a warrant issued in connection with ongoing investigations into the Cambodia-based group, the police said in a news release.
The Singaporean will be charged in court on Friday with one count of instigating another person to falsify accounts and another of attempted cheating.
Chen was a director of several Singapore-registered companies believed to be beneficially owned by Chen Zhi, the founder and chairman of Prince Holding Group.
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These include Skyline Investment Management and Capital Zone Warehousing.
In September 2022, Skyline submitted a business plan and a false agreement to JTC Corporation for approval to take over the lease of a property, the police said.
Chen allegedly instigated an officer of Capital Zone Warehousing to falsify the agreement with the intention to defraud.
She is also believed to have submitted the false agreement in an attempt to cheat JTC Corporation.
Investigations into the alleged fraud are ongoing.
If convicted of instigating another person to falsify accounts, Chen could be jailed for up to 10 years, fined, or both.
The offence of attempted cheating carries a jail term of up to 10 years and a fine.
Police said they had issued additional prohibition of disposal orders against 14 properties, as well as seized various bank and securities accounts since June 2026.
These assets have an estimated value of about S$100 million (US$78 million).
This brings the total value of assets seized and/or prohibited in connection with Prince Holding Group to more than S$700 million.
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Chen Xiuling, also known as Karen Chen, was arrested under a warrant issued in connection with ongoing investigations into the Cambodia-based group, the police said in a news release.
The Singaporean will be charged in court on Friday with one count of instigating another person to falsify accounts and another of attempted cheating.
Chen was a director of several Singapore-registered companies believed to be beneficially owned by Chen Zhi, the founder and chairman of Prince Holding Group.
CNA Games
Show More Show Less
These include Skyline Investment Management and Capital Zone Warehousing.
In September 2022, Skyline submitted a business plan and a false agreement to JTC Corporation for approval to take over the lease of a property, the police said.
Chen allegedly instigated an officer of Capital Zone Warehousing to falsify the agreement with the intention to defraud.
She is also believed to have submitted the false agreement in an attempt to cheat JTC Corporation.
Investigations into the alleged fraud are ongoing.
If convicted of instigating another person to falsify accounts, Chen could be jailed for up to 10 years, fined, or both.
The offence of attempted cheating carries a jail term of up to 10 years and a fine.
Police said they had issued additional prohibition of disposal orders against 14 properties, as well as seized various bank and securities accounts since June 2026.
These assets have an estimated value of about S$100 million (US$78 million).
This brings the total value of assets seized and/or prohibited in connection with Prince Holding Group to more than S$700 million.
Continue reading...