Listing of $39M Singapore building linked to scam tycoon Chen Zhi removed as investigation widens
A sale listing for a SGD50 million (US$38.6 million) Singapore building, which is suspected to have ties to Cambodian scam tycoon Chen Zhi, has been removed three days after appearing online.
The property, located in the Bukit Merah area and known as 2 Jalan Kilang Barat, is no longer available after being put up for sale on Dec. 2, according to The Straits Times.
The 2 Jalan Kilang Barat building in Singapore. Photo by Google Street View |
Its owner Chen Xiaoxuan, 25, is assisting the Singapore Police Force in its investigation into embattled businessman Chen Zhi.
Xiaoxuan’s father Tan Yew Kiat, 49, was recently arrested for his suspected role in money laundering offences.
Police raided his office in Kung Chong Road in late November as part of the U.S. probe into Zhi, who is suspected by the U.S. and the U.K. of running a major scam network based in Cambodia and conducting money laundering activities.
The 2 Jalan Kilang Barat property was cited in the U.S. investigation as the Singapore address for 11 companies directly tied to Zhi.
In the U.S. and Britain, authorities have seized at least US$15 billion in Bitcoin and tens of millions of dollars’ worth of other assets, including properties in locations such as London and Palau in the Pacific.
Singapore police have seized or frozen more than $116 million in assets linked to Zhi, including luxury cars and a yacht.
Three Singaporeans – Nigel Tang, Chen Xiuling and Alan Yeo – were sanctioned by the U.S. on Oct. 14 in connection with the probe, with their assets in the U.S. also blocked or frozen.
Chen Zhi’s whereabouts remain unknown, but Singapore police has confirmed he is not in the city-state.
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