Chen Xiuling, also known as Karen Chen, was charged with attempted cheating and instigating the falsification of accounts to secure a JTC Corporation property lease. She served as a director for local firms, including Skyline Investment Management and Capital Zone Warehousing, which were beneficially owned by Prince Holding Group founder Chen Zhi. The detention marks a major step in Singapore's ongoing 2024 probe into the conglomerate, which the United States designated as a transnational criminal organisation. Authorities have restricted more than S$700 million in domestic assets tied to the broader syndicate.
Key points
Local company directorships are facing aggressive scrutiny from law enforcement investiga…: Local company directorships are facing aggressive scrutiny from law enforcement investigating illicit foreign syndicates operating in Singapore.
The United States has formally designated the Cambodia-based Prince Holding Group as a tr…: The United States has formally designated the Cambodia-based Prince Holding Group as a transnational criminal organisation.
Global enforcement actions against the group have accelerated following founder Chen Zhi'…: Global enforcement actions against the group have accelerated following founder Chen Zhi's extradition to China and massive asset freezes in Hong Kong.
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Karen Chen will be charged in court with one count of instigating another person to falsify accounts and another count of attempted cheating.
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.
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.
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