Singapore Probes $600M Laundering Scheme

Singapore's police force is actively investigating two men, Hu Xiaowei and Qiu Wei Ren, for alleged money laundering offenses. These allegations are linked to Cambodia's Prince Group and its associates. In January 2026, police seized assets belonging to Hu Xiaowei, which were held in his Singapore bank and securities accounts. Hu, who reportedly holds multiple passports, was previously sanctioned by the US Treasury in October 2025 under an alias due to his alleged ties to the Prince Group.

The investigation has resulted in the seizure or prohibition of disposal orders for assets valued at over $600 million. This includes three properties, a yacht, and numerous luxury items such as cars, bags, and watches. Hu Xiaowei is also believed to be the ultimate owner of Future Oasis, a Singapore-based family office incorporated in 2022, which was also sanctioned by the US Treasury. Qiu Wei Ren previously served as a director for a defunct Singapore management consultancy firm between 2021 and 2025.

This ongoing crackdown follows earlier sanctions imposed by the US Treasury's Office of Foreign Assets Control (OFAC) in October 2025. At that time, OFAC sanctioned 146 entities linked to the Prince Group, which was described as a transnational criminal organization involved in wire fraud, money laundering, and human trafficking. The recent actions by Singaporean authorities underscore the global effort to curb financial crimes associated with the group.