The Washington Post: How one cyber-scamming syndicate used Singapore for legitimacy

[Ng Cheh Hwang]

How one cyber-scamming syndicate used Singapore for legitimacy​

https://www.washingtonpost.com/world/2025/10/26/cyber-scamming-prince-group-syndicate-singapore/

The United States and British governments last week took their most significant action against the cyber scam industry when they sanctioned Prince Holding Group, one of Cambodia’s biggest conglomerates, and its chairman, Chen Zhi, and froze their assets in both countries.

Singapore, a financial capital known for its stable and predictable business environment, helped Prince Group legitimize itself. The sanctions and the allegations raised in the indictment underscore the city-state’s role in enabling cyber scamming, a multibillion dollar criminal industry that has become entrenched in Southeast Asia.

As part of that action, more than a dozen Singapore entities and three Singaporeans were sanctioned by US Treasury. One of these Singaporeans was described as a “co-conspirator” of Chen’s, working as one of his top executives as he oversaw these cyber scam compounds in Cambodia, according to the indictment. Workers were sometimes beaten into compliance.

 

[Ng Cheh Hwang]

‘Singapore washing’​

https://www.washingtonpost.com/world/2025/10/26/cyber-scamming-prince-group-syndicate-singapore

Apart from the companies and individuals named by the US Treasury, several other Singaporean individuals and companies played critical roles in shaping Prince Group’s image and corporate strategy, according to The Post’s reporting.

A Singaporean law firm, Duane, Morris & Selvam LLP, separately acted as Prince Group’s legal representative in rebutting media outlets and individuals who connected the company with illicit activity. The law firm issued a series of public joint statements with Prince Group refuting Radio Free Asia’s reporting on the company last year, and was as recently as June threatening a defamation suit against Jacob Sims, a visiting fellow at Harvard University who has also investigated the company, according to a copy seen by The Post.

A spokeswoman for Duane, Morris & Selvam said the firm no longer represents Prince Group, declining to elaborate on when the relationship started or ended.

Prince Group, analysts say, represents the latest and among the most egregious examples of Singapore’s relatively lax business environment being utilized for illicit activity, whether sidestepping American export controls, moving sanctioned crude oil or, most recently, moving profits earned from cyberscamming.

In Washington, some lawmakers coined a term — "Singapore Washing" — to describe the practice of Chinese companies using Singapore to circumvent U.S. scrutiny amid heightened geopolitical tensions.

It is a “pattern of behavior that has more to do with the Singapore ecosystem as a whole,” said Ja Ian Chong, an associate professor of political science at the National University of Singapore. “The relative secrecy and lack of a more active press makes it easy for companies to hide here, whether for legitimate or less legitimate reasons.”

 

[batman1]

Legalised corruption. Legalised money laundering. 555

 

[Ng Cheh Hwang]

Political connections​

https://www.washingtonpost.com/world/2025/10/26/cyber-scamming-prince-group-syndicate-singapore/

Chen’s influence went beyond Cambodia. According to the indictment, he was able to get information in advance of raids on scam compounds by bribing officials from China’s Ministry of Public Security and Ministry of State Security. The ministries did not respond to request for comment.

But if political connections in Cambodia and China were critical to Prince Group’s ability to amass an astronomical level of wealth, it was Singapore that then played a significant role in helping launder and legitimize that money, according to a review of the indictment, the Treasury sanctions, and corporate records of the Singapore-registered companies and people who have investigated Prince Group in recent years.

Efforts to present themselves as legitimate businesses there were so successful that, just last December, the Nanyang Technological University of Singapore, one of the city’s three biggest universities, partnered with the Prince Foundation on an overseas learning program focused on expanding access to education and entrepreneurship.AI Icon

NTU was also advertising an internship at Belt Road Capital Management, a now-sanctioned private equity firm that invested Chen’s money in projects across the region. An university spokesperson said NTU partnered with Prince Group or its subsidiaries in 2022, 2023 and 2024 on a three-week overseas program “where students work with companies to solve real business challenges.”

Separately, a wholly-owned subsidiary of the Singapore government’s investment firm, Temasek Group, partnered with a Prince Group subsidiary to draw up a master plan for a planned “eco-city” in Sihanoukville on Cambodia’s coast.

 

[Ng Cheh Hwang]

Legalised corruption. Legalised money laundering. 555

Likely CIMB Bank and OCBC Bank involved

 

[laksaboy]

Even pro-CCP Taiwan media has called out shithole island for its money laundering/scamming dealings with the trashy Tiongs.

Remember back in the day, the time when the Shitty Times hyped up 'family offices' setting up shop here?

Post in thread 'Never underestimate the PAP regime's talent for betting on the wrong horse'

Yesterday at 2:39 PM

The PAP regime will suffer dire consequences for doing business with the criminal Tiongs.

As far as betting on the wrong horse goes, this might be the worst one.

Chairman of Prince Group Indicted for Operating Cambodian Forced Labor Scam Compounds Engaged in Cryptocurrency Fraud Schemes​

https://www.justice.gov/opa/pr/chai...cambodian-forced-labor-scam-compounds-engaged...

• laksaboy

 

[laksaboy]

Likely CIMB Bank and OCBC Bank involved

If OCBC is involved, that means Great Eastern is involved. OCBC is Great Eastern's 'sugar daddy'.

 

[laksaboy]

Legalised corruption. Legalised money laundering. 555

PAP 'what's wrong with collecting more money' philosophy. Cheerfully accepting money even Switzerland and Cayman Islands dare not touch.

 

[Iceberg]

NTU was also advertising an internship at Belt Road Capital Management, a now-sanctioned private equity firm that invested Chen’s money in projects across the region. An university spokesperson said NTU partnered with Prince Group or its subsidiaries in 2022, 2023 and 2024 on a three-week overseas program “where students work with companies to solve real business challenges.”

Hahaha, NTU offering internship to be a scammer.

 

[Ng Cheh Hwang]

If OCBC is involved, that means Great Eastern is involved. OCBC is Great Eastern's 'sugar daddy'.

After the Fujian gang was caught in Aug 2023, OCBC was begging their China-born customers with kuku-island citizenships and mailing addresses in Malaysia (outside Singapore) to close their bank accounts.

 

[Gutted]

PAP is a dirty political party.

 

[nabeifuckpap]

PAP really fucked Shitgapore upside down thanks to 65% cunts