Singapore Seizes $115 Million Amid Anti-Corruption Campaign

Singapore Police Confiscate $115 Million in Chen Zhi’s Assets

Authorities in Singapore have seized assets valued at $115 million associated with Chinese businessman Chen Zhi, as part of an ongoing probe into suspected financial wrongdoing. The Singapore Police Force (SPF) revealed the confiscation on October 28, 2025, signaling a notable intensification of the nation’s crackdown on international financial crime. Although the investigation is still underway, the SPF referenced breaches of the Prevention of Corruption Act and the Money Laundering Act as justification for freezing the assets.

This action occurs as Singapore, a major global finance center, increases its oversight of Chinese entrepreneurs amid efforts to align with global regulatory norms. According to the SPF, the confiscated assets span properties, high-end cars, and offshore bank accounts. While the precise allegations against Chen Zhi have not been made public, officials stressed that the move demonstrates Singapore’s dedication to upholding a fair and transparent business climate.

Such enforcement measures are consistent with Singapore’s broader initiative to reinforce its reputation as a reliable financial hub. The Monetary Authority of Singapore (MAS) has, in recent years, tightened compliance standards for banks and other financial entities, especially regarding anti-money laundering (AML) measures and thorough background checks. The SPF noted that the asset seizure is the result of a coordinated investigation involving the MAS, the Central Narcotics Bureau, and the Commercial Affairs Department.

Although the investigation into Chen Zhi is ongoing, the freezing of his assets has highlighted the complexities of monitoring international financial transactions. Chen Zhi, who has not yet been officially charged, is reportedly connected to several prominent business projects in Southeast Asia. An SPF spokesperson declined to say whether this case is linked to other current investigations but confirmed that the confiscated assets are under judicial review to verify their legitimacy.

This case also highlights the regional geopolitical challenges related to financial oversight. As China’s economic reach grows, Singapore and similar nations are striving to balance their roles in global commerce with the strict enforcement of domestic regulations. The decisive response from the SPF has been welcomed by local business circles, who see it as essential for maintaining investor trust.