Over $150m in assets tied to Cambodia scam syndicate seized

The police on Oct 30 seized and issued prohibition of disposal orders against six properties and various financial assets tied to Cambodian businessman Chen Zhi and his company, Prince Group, in relation to money laundering and forgery offences.

- Lok Jian Wen Correspondent

The assets, including bank accounts, securities accounts and cash, have a total estimated value of more than $150 million, said the police on Oct 31.

Other assets including a yacht, 11 cars and multiple bottles of liquor were also subject to prohibition of disposal orders.

Prince Group is a self-described multinational business conglomerate, with projects in Cambodia that include resorts and hotels.

Chen, who hails from Fujian in China and is also known as Vincent, has been accused by the US authorities of wire fraud and money laundering conspiracies, and for directing the operation of forced-labour scam compounds in Cambodia. He has been charged in absentia in New York.