Singapore Arrests US-Sanctioned Yacht Captain Linked To Asia’s Biggest Scam Network

Singapore police have arrested a US-sanctioned yacht captain connected to Chen Zhi, the alleged mastermind behind one of Asia’s largest scam networks. Police said Nigel Tang Wan Bao Nabil, 32, was arrested on 11 December after returning to Singapore.

In a statement issued on 18 December, the authorities said Tang was detained for his suspected involvement in money laundering offences connected to Chen Zhi and companies associated with him. People familiar with the matter said Tang has since been released on bail, while investigations remain ongoing.

Chen Zhi, a China-born Cambodian citizen, has been indicted by US authorities for allegedly leading a transnational criminal network that operated scam compounds across several countries using trafficked and enslaved workers.

US prosecutors have accused Chen and his Prince Holding Group of running online “pig-butchering” scams that targeted victims in the United States and elsewhere, laundering billions of dollars in illicit proceeds. The US government has said Chen, who is 38, remains at large.

Tang is one of three Singapore citizens sanctioned by the United States in October for their alleged links to Chen, who is the founder and chairman of Prince, a Cambodian conglomerate.

According to the US Treasury, Tang served as the captain of a 53-metre superyacht named NONNI II, which was owned by Chen. People familiar with the matter said the yacht was frequently used by Chen and his associates.

The US Treasury also identified Tang as a director and operations head of Warpcapital Yacht Management, a Singapore-registered company.

Tang also held the role of head of operations at Capital Zone Warehousing, a Chen-controlled Singapore firm that operated a tax-exempt warehouse for imported alcohol and tobacco products.

Following the US indictment and sanctions, authorities in Singapore and other countries have stepped up scrutiny of Chen’s business interests and financial activities.

In late October, Singapore police said they had seized or restricted the sale of assets worth more than S$150 million (US$116 million) linked to Chen and his associates.

These included properties, vehicles, bank accounts, bottles of liquor and a yacht. At the time, the police said Chen and his known associates were not in Singapore.

Court filings reviewed by Bloomberg News showed that at least 15 bank accounts were among the assets seized.

In November, four Singapore-registered companies controlled by Chen, including his local family office and Capital Zone Warehousing, applied to a local court seeking limited access to some frozen funds.

The companies said the money was needed to pay salaries, cover legal fees and meet other expenses. The application is being led by Karen Chen Xiuling, another US-sanctioned Singapore citizen, who was reported to be travelling in Cambodia.

The companies’ legal team said in court filings that they could face serious consequences if they were unable to meet contractual and legal obligations. They also stated that the firms still owed rent despite being evicted from their premises and had outstanding salary payments to former employees. Only two employees were said to remain, including Karen Chen.

Lawyer Clarence Lun Yaodong, representing the four companies, Warpcapital Yacht Management, and Karen Chen, said the court has heard the application and a decision is pending.

Singapore prosecutors have objected to the request to release the funds, stating in their submission that the money is suspected to be linked to criminal activity. They said the Commercial Affairs Department, the police’s white-collar crime unit, is investigating Chen, his key associates and related companies.

Separate filings by prosecutors showed that companies controlled by Chen and his associates held more than US$3.2 million with Malayan Banking and UK-based Revolut. Accounts held with OCBC in Singapore and RHB Bank in Malaysia were also seized, while accounts previously held with CIMB Group were closed.

References: SCMP, Bloomberg

Source: Maritime Shipping News