Singapore police announced on November 5 that Chen Xiuling, a 44-year-old Singaporean woman also known as Karen Chen who is linked to Cambodia’s Prince Holding Group, had been arrested at Changi Airport. She was formally charged on November 6. Investigations and court proceedings are ongoing.
Police investigations found that Chen had served as a director of several Singapore-registered companies believed to be beneficially owned by Prince Holding Group founder Chen Zhi. She is suspected of instructing an employee to falsify a business agreement in 2022 and submitting the documents to Singapore’s JTC Corporation in an attempt to secure the lease of a property in Kallang.
Prosecutors said the documents involved an investment agreement worth S$23 million. Chen currently faces two charges: instigating another person to falsify accounts and attempted cheating.
Singapore police had earlier issued a warrant for Chen’s arrest and had believed she was in Cambodia. Following her arrest at Changi Airport, prosecutors sought to remand her for a further six days to facilitate investigations. The court granted the application.
Singapore police said that, as of November 5, the total value of assets seized and/or prohibited from disposal in connection with Prince Holding Group exceeded S$700 million. Investigations are continuing.
