Singapore Police Seize Over $115 Million in Assets from Chen Zhi in Money Laundering Probe

Singaporean authorities have seized over S$150 million in assets linked to Chen Zhi, the chairman of Prince Group. This action follows a money laundering investigation involving crypto activities and has underscored the increasing scrutiny on financial crimes in Southeast Asia. The seizure is part of efforts by Singapore police to target illicit financial flows and disrupt transnational money laundering networks. Notably, this operation hasn’t triggered significant disruptions in major cryptocurrency markets, highlighting the effectiveness of regulatory measures in mitigating potential market volatility.