Singaporean Man Arrested in Connection with Money Laundering Investigation
SINGAPORE: A man from Singapore, suspected of involvement in money laundering activities tied to Cambodia’s Prince Holding Group, was taken into custody on December 11.
The police confirmed on December 19 that Nigel Tang Wan Bao Nabil was apprehended upon his return to the country. He is alleged to be linked to money laundering offenses associated with Chen Zhi, the founder and chairman of Prince Group, along with the companies he oversees.
The authorities are currently conducting further investigations.
Background on the Case
Tang, aged 32, previously served as the captain of a superyacht owned by Chen, as reported by Business Times. Chen is a British-Cambodian business mogul facing serious allegations of operating forced labor camps in Cambodia, which have been described as centers for multi-billion dollar scams. He has also been indicted in the United States.
The United States government has characterized Prince Group as a front for what they describe as “one of Asia’s largest transnational criminal organizations.”
Prince Group’s Operations
This multinational conglomerate claims to oversee more than $2 billion worth of investments in Cambodia, notably including a prominent shopping center, Prince Plaza, located in the capital city of Phnom Penh.
Despite the allegations against it, Prince Group has firmly denied any wrongdoing.
- A Singaporean man was arrested for suspected money laundering linked to the Prince Holding Group.
- Nigel Tang previously captained a yacht owned by Chen Zhi, the group’s chairman.
- Chen Zhi faces serious allegations in the U.S. regarding forced labor camps in Cambodia.
- Prince Group has claimed its innocence amid ongoing investigations.