Singapore police named two Chinese nationals on June 23 as suspects in a money laundering investigation tied to Cambodia’s Prince Group. Neither man is in the country.
They are Hu Xiaowei, 44, and Qiu Wei Ren, 38. The U.S. Office of Foreign Assets Control (OFAC) named Qiu in new sanctions the same day. “Both Hu Xiaowei and Qiu Wei Ren had left Singapore prior to the commencement of police’s operations in October 2025, and are currently not in Singapore,” police said.
Seizures so far
Police said more than S$600 million in cash and assets has been seized or frozen under prohibition of disposal orders in the wider Prince Group probe. The list includes three properties, a yacht, and luxury cars, bags and watches. The figure covers the whole investigation, not Hu alone. Of Hu specifically, police said they seized assets across his bank and securities accounts in January 2026.
Police are also investigating Future Oasis, a Singapore-based family office linked to him. It was incorporated in 2022, and its sole shareholder is Future King, registered in the British Virgin Islands. Hu is said to be the ultimate owner of that firm.
Who the two men are
OFAC sanctioned Hu in October 2025 under the alias Chen Xiao’er. He has at least two other aliases, Hu Shi and Wu An Ming, and holds passports from Cyprus, St Kitts and Nevis, and Hong Kong. He was a shareholder in two of Chen Zhi’s companies until at least 2021. Chen Zhi is the Prince Group’s founder and chairman.
Qiu was a director of Fly the Sky International Management between 2021 and 2025. The Singapore consultancy, now defunct, had S$2 million in start-up capital and five directors holding citizenships from Cambodia, China, Cyprus and Malaysia. Police said they identified him while working with international partners, including U.S. law enforcement.
The Organized Crime and Corruption Reporting Project reported on June 22, with Kyodo News, that Hu had been arrested in Japan. The suspicion was filing a fraudulent change-of-address notification. Singapore police did not mention that arrest in their statement.
The wider case
The same OFAC round named other Prince Group associates, among them Dai Dewen, who became Dai An in 2017 on receiving Cambodian citizenship, and Brendon Luo, a director of an investment firm now being liquidated. The Straits Times found that Dai and his wife own an apartment in Leedon Heights.
The first sweep came in October 2025, when Washington targeted 146 entities and accused the group of wire fraud, money laundering and human trafficking on an industrial scale. Three Singaporeans and 17 Singapore-registered entities were among those sanctioned. Cambodia later arrested Chen Zhi and Huione Group head Li Xiong, in January and April.
In March, Singapore police arrested three Singaporeans in the same inquiry: Tan Yew Kiat, 49, Nigel Tang Wan Bao Nabil, 32, and Alan Yeo Sin Huat, 53. A warrant has been issued for Karen Chen Xiuling, 43, believed to be in Cambodia.
Sources
- S’pore investigating 2 men linked to Prince Group hit by US sanctions; $600m in assets seized so far
- Singapore investigating 2 men linked to Prince Group after US sanctions; $600m in assets seized so far
