Singapore police arrest Chen Xiuling and charge her with forging an agreement
Singapore police arrested a 44-year-old Singaporean woman, Chen Xiuling (also known as Karen Chen), at Changi Airport on November 5, 2026, pursuant to an arrest warrant. Police said she will be charged on November 6 with two offenses: abetting another person to forge accounts (Penal Code Section 477A read with Section 109), and attempted cheating (Section 420 read with Section 511).
Police said Chen had served as a director of multiple Singapore-registered companies that are believed to be beneficially owned by Prince Holding Group founder and chairman Chen Zhi, including Skyline Investment Management Pte Ltd and Capital Zone Warehousing Pte Ltd. In September 2022, Skyline submitted a business plan and a forged agreement to JTC Corporation in an application to take over a property lease; police believe Chen abetted an employee of Capital Zone Warehousing to forge the agreement, and submitted the forged agreement in an attempt to deceive JTC Corporation. The related fraud investigation is still ongoing.
Police also disclosed that since June 2026, prohibition orders have been issued on another 14 properties, and multiple bank and securities accounts have been seized, with an estimated total value of about S$100 million. This brings the cumulative total value of assets seized or subject to restrictions related to Prince Holding Group to more than S$700 million.
Original source:
Title: Singaporean Linked To Transnational Scam Syndicate Prince Holding Group Arrested And Charged Publisher: Singapore Police Force Publication date: 2026-11-05 URL: https://www.police.gov.sg/Media-Hub/News/2026/11/20261105_singaporean_linked_to_transnational_scam_syndicate_prince_holding_group Nature of source: official announcement Verification status: full text read for this report, verification date 2026-11-06 Supporting content: arrest time and place, the two charges, Chen's directorships in the related companies and her relationship with Chen Zhi, the 2022 submission of a forged agreement to JTC Corporation, asset update figures
ABAB AI Insight
Chen Xiuling was already listed as a Singaporean linked to Prince Holding Group on the U.S. Treasury Department’s sanctions list in October 2025. U.S. authorities then said she was responsible for the group’s company affairs in Mauritius, Taiwan, and Singapore, and appeared in the registration documents of multiple entities in Singapore. She later resigned as an independent director of Singapore-listed livestream platform 17Live Group.
She had previously served as CFO of DW Capital Holdings, a single-family office set up in Singapore by Chen Zhi. The office had publicly claimed to manage assets and to have obtained relevant tax incentives from the Monetary Authority of Singapore. Police began investigating Chen Zhi and his associates in 2024, conducted a citywide operation in October 2025 and seized or restricted more than S$150 million in assets, including yachts and vehicles; by March 2026, the total had reached more than S$500 million, and after this update it exceeds S$700 million.
Compared with the U.S. Department of Justice’s October 2025 charges against Chen Zhi for wire fraud and money laundering conspiracy, and the seizure of about US$15 billion in bitcoin, Singapore’s present charges are focused on document forgery in a 2022 local property lease application. The U.S. allegations pointed to large-scale cross-border scam compounds, while the Singapore charges currently remain at the stage of a single forged agreement submission, and have not publicly equated the document conduct with the overall scam proceeds.
Chen Xiuling’s arrest and charges mean Singapore’s investigation has extended from asset restrictions alone to the document liability of a local individual. She had previously left before the police operation in October 2025, and an arrest warrant was issued in March 2026; she was now detained at the airport. What this changes is the accountability entry point at the level of Singapore company directors, not a judicial determination already completed regarding Prince Holding Group’s overall funds flow.
ABAB News · Cognitive Law
Director status can link to local document liability, but it does not equal proof of cross-border proceeds attribution.
The cumulative asset restrictions exceed S$700 million, yet they remain at a different stage from the single 2022 agreement charge.