Singapore seizes assets worth 2.7 billion RMB in the Tsz Nam King case

KuCoinFlash

Release Time: 03/04/2026 04:17:01

Summary

Singapore has frozen assets worth over 500 million SGD (approximately 2.7 billion RMB) in the Tsz Nam King case. The seized assets include three real estate properties, eight vehicles, cash in multiple currencies, bank and securities accounts, and luxury goods. Three suspects were detained between November 2024 and January 2025, with an arrest warrant issued for Chen Xiuling. This action aligns with global efforts to regulate high-risk assets and follows similar measures under MiCA.

BlockBeats news, on March 4, the Singapore Police Force announced that it had arrested three Singaporeans between November last year and January this year in connection with a money laundering case involving the Taizi Group, and has issued an arrest warrant for another Singaporean woman, Chen Xiuling.

In October 2025, police seized or prohibited the disposal of assets worth over S$150 million, and subsequently issued additional restraint orders on three properties, eight vehicles, seized cash (including various foreign currencies), bank and securities accounts, luxury handbags, and watches, with an estimated total value of S$350 million.

To date, the total value of assets seized and/or frozen in connection with this case has exceeded S$500 million (approximately RMB 2.7 billion).

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