A 44-year-old Singaporean woman allegedly linked to Cambodia-based business conglomerate Prince Holding Group has been arrested at Changi Airport and is expected to face criminal charges in Singapore.
Chen Xiuling, also known as Karen Chen, was arrested on Nov 5 after returning to Singapore. Her arrest followed a warrant issued in connection with an ongoing investigation into the activities of Prince Holding Group and its founder, Chen Zhi.
According to the Singapore Police Force (SPF), Karen Chen previously served as a director of several Singapore-registered companies believed to be beneficially owned by Chen Zhi.
These companies include Skyline Investment Management and Capital Zone Warehousing.
She is expected to face charges relating to allegedly instigating another individual to falsify accounts and attempting to cheat JTC Corporation.
Alleged Submission Of False Documents To JTC
Police investigations revealed that in September 2022, Skyline Investment Management allegedly submitted a business plan together with a false agreement to JTC Corporation.
The documents were reportedly intended to obtain approval for taking over the lease of a property.
Karen Chen is accused of instructing an officer from Capital Zone Warehousing to falsify the agreement with the intention of deceiving JTC.
She is also alleged to have submitted the document as part of an attempt to cheat the government agency.
The authorities said investigations into the alleged fraudulent activities remain ongoing.
The case follows earlier reports that an arrest warrant had been issued for Karen Chen in October, with investigators believing she had travelled to Cambodia.
At Least 17 Singapore Companies Reportedly Linked To Group
Karen Chen was reportedly associated with at least 17 Singapore-registered companies that were targeted by US Treasury sanctions over their alleged connections to Chen Zhi and Prince Holding Group.
The wider investigation into the group has attracted international attention, with US authorities seizing billions of dollars’ worth of Bitcoin and other assets allegedly connected to its operations.
The Cambodian authorities have also announced measures against assets linked to the group, while seeking Interpol’s assistance in locating 29 alleged key figures who had reportedly left the country.
Singapore Authorities Seize More Than S$700 Million In Assets
Singapore police disclosed that since June 2026, additional prohibition of disposal orders had been issued against 14 properties connected to the investigation.
Authorities also seized various bank and securities accounts with an estimated value of S$100 million.
This brings the total value of assets seized or placed under prohibition of disposal orders in connection with Prince Holding Group to more than S$700 million.
Meanwhile, Cambodian authorities announced in October that they had frozen assets worth nearly US$1 billion, equivalent to approximately S$1.28 billion.
Faces Potential 10-Year Jail Term If Convicted
Karen Chen is expected to be charged on Nov 6.
If convicted of instigating another person to falsify accounts, she could face up to 10 years’ imprisonment, a fine, or both.
For the separate charge of attempting to cheat, she could also face up to 10 years’ imprisonment and a fine.
The police have stressed that investigations into the alleged offences are continuing.
Her arrest marks another development in the ongoing international investigation into Prince Holding Group, which has drawn scrutiny from authorities in Singapore, the United States and Cambodia.