Singapore Freezes 121 Luxury Cars of SRS Auto in Chen Zhi Money-Laundering Probe

SINGAPORE: Singapore police have slapped prohibition-of-disposal orders on 121 vehicles registered under SRS Auto as part of a widening money-laundering probe linked to sanctioned Cambodian tycoon Chen Zhi, 38.

The Prince Group chairman was indicted in New York on 14 Oct 2025 for wire fraud, money laundering and running forced-labour scam compounds. US authorities have already seized US$15 billion in Bitcoin tied to his empire.

SRS Auto

Local car-leasing firm owner Tan Yew Kiat was arrested after raids on SRS Auto’s Kung Chong Road office in late November. Investigators from the Commercial Affairs Department, MAS and intelligence units are interviewing insiders, including Tan’s daughter Chen Xiaoxuan.

Police confirmed one arrest so far for suspected money laundering, with investigations ongoing under the multi-agency Anti-Money Laundering network.