Full Breakdown
Singapore Police Probe Two Chinese Nationals Over Prince Group Money Laundering
6/24/2026, 9:47:11 PM
Core Event: Investigation of Hu Xiaowei and Qiu Wei Ren
On 23 June the Singapore Police Force (SPF) announced investigations into Chinese nationals Hu Xiaowei (44) and Qiu Wei Ren (38) for alleged money-laundering linked to Cambodia-based Prince Holding Group. Both left Singapore before the October 2025 operation.
Background & Sanctions
In October 2025 OFAC sanctioned Prince Holding Group, its founder Chen Zhi and 146 affiliates, calling it a transnational criminal organisation involved in wire fraud, money laundering and human-trafficking. Earlier sanctions in June 2024 and June 2025 added Future Oasis and Qiu Wei Ren.
Key Figures
Hu Xiaowei, holds Cypriot, Saint Kitts and Nevis and Hong Kong passports, owns Future King (BVI), shareholder of Singapore-based Future Oasis. Qiu Wei Ren, holding Cambodian and Saint Kitts and Nevis passports, appears in June 23 OFAC sanctions and was director of Fly the Sky International Management. Prince Holding Group, founded by Chen Zhi, operates in Cambodia, Taiwan, Hong Kong, the Caribbean and Singapore.
Asset Seizures
Since March 2026 Singapore authorities have frozen assets over S$600 million, including three properties, a yacht, cars, watches, bags and cash. An S$100 million of bank and securities accounts were prohibited in March 2026; Hu’s accounts were seized in January 2026.
Official Response
SPF said the probe of Hu and Qiu is part of an investigation into Prince Holding Group, conducted with partners, and noted suspects left Singapore before October 2025 operation. U.S. officials have labeled the group a transnational criminal organization, accusing it of wire fraud, money laundering and human-trafficking; the sanctions bar U.S. persons from dealings with listed entities.
Developments & Gaps
OCCRP reported Hu’s arrest in Japan on 22 June for filing a fraudulent change-of-address notice. Records show associate Dai Dewen (now Dai An) owns an apartment in Singapore’s Leedon Heights. Sources differ on asset-freeze timing—cite a January 2026 seizure of Hu’s accounts and orders in March 2026. Hu’s arrest appears in OCCRP reports but not in official SPF releases.
Verbatim Quotes
- “Hu Xiaowei holds passports issued by Cyprus, Saint Kitts and Nevis, and Hong Kong.” — Singapore Police Force
- “Both Hu Xiaowei and Qiu Wei Ren had left Singapore prior to the commencement of police’s operations in October 2025, and are currently not in Singapore,” — Singapore Police Force
- “The police will continue to work closely with our foreign law enforcement counterparts to act against criminal offences linked to the Prince Holding Group,” — Singapore Police Force
- “Together with Kyodo News, OCCRP reported that he was arrested on suspicions of filing a fraudulent change-of-address notification, which violates laws against using false electronic official records.” — OCCRP
What’s Next
SPF has issued arrest warrants for additional suspects, including a Singaporean woman accused of instigating falsified accounts. Cooperation with U.S. and regional agencies should lead to further asset freezes and possible extraditions of Hu, Qiu and other affiliates.
