The Singapore Police Force (SPF) is investigating two men over alleged money laundering offences linked to Cambodia’s heavily sanctioned Prince Group and its associates.
On June 23, police identified the Chinese nationals as Hu Xiaowei, 44, and Qiu Wei Ren, 38. Qiu was named the same day in sanctions issued by the U.S. Office of Foreign Assets Control (OFAC).
Police said they are investigating Hu and his associated company, Future Oasis, as part of ongoing probes into the Prince Group, its founder and chairman Chen Zhi, and his associates and related companies.
Hu holds passports issued by Cyprus, St Kitts and Nevis, and Hong Kong. SPF said police had previously seized assets held in his bank and securities accounts in Singapore in January 2026.
Qiu was identified while Singapore police were working with international partners, including U.S. law enforcement agencies, on investigations linked to the Prince Group.
“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,” police said.
Since March 2026, more than $600 million in cash and assets — including three properties, a yacht, luxury cars, bags and watches — have been seized or placed under prohibition of disposal orders in Singapore. These are linked to the Prince Group investigation.
OFAC sanctioned Hu in October 2025 under the alias Chen Xiao’er over alleged links to the Prince Group, which the U.S. described as one of Asia’s largest transnational criminal organisations. Hu, who is confirmed to have at least two other aliases, including Hu Shi and Wu An Ming, was a shareholder in two of Chen Zhi’s companies until at least 2021.
A Singapore-based family office linked to Hu was also named in the latest round of OFAC sanctions. Future Oasis, incorporated in 2022, lists British Virgin Islands-registered Future King as its sole shareholder, with Hu said to be the ultimate owner of the BVI firm.
The Organised Crime and Corruption Reporting Project reported on June 22 that Hu had been arrested in Japan. Working with Kyodo News, the outlet said he was detained on suspicion of filing a fraudulent change-of-address notification, an offence under laws against using false electronic official records.
Qiu had served as director of now-defunct Singapore management consultancy Fly the Sky International Management between 2021 and 2025. The firm had $2 million in start-up capital and five directors with citizenships from Cambodia, China, Cyprus and Malaysia.
Financial fraud probe
In October 2025, the U.S. Treasury Department’s OFAC imposed sanctions on the Prince Group, Cambodian national Chen Zhi and his affiliates in one of the largest financial fraud crackdowns in history.
More than 146 entities were included in the sanctions, including companies registered in Cambodia, Taiwan, Hong Kong, Palau and Laos, as well as the British Virgin Islands and Cayman Islands.
Three Singaporeans and 17 Singapore-registered entities were also sanctioned, effectively barring U.S. persons from transacting with them and requiring the blocking of any property they hold or control.