Police block SRS Auto from disposing of its vehicles as probe into car leasing firms widen
newsare.net
SINGAPORE - The police have issued 121 prohibition of disposal orders against vehicles registered under SRS Auto amid a multi-agency probe into possible money laundering activities in the car leasing business.The order blocks the sale and transfer of vehiclePolice block SRS Auto from disposing of its vehicles as probe into car leasing firms widen
SINGAPORE - The police have issued 121 prohibition of disposal orders against vehicles registered under SRS Auto amid a multi-agency probe into possible money laundering activities in the car leasing business.The order blocks the sale and transfer of vehicles owned by the car leasing firm.Investigations had started in 2024, after police received financial intelligence from the Suspicious Transaction Reporting Office regarding Cambodian businessman Chen Zhi and his associates.The 38-year-old tycoon, who chairs real estate and financial services conglomerate Prince Group, was later indicted in the US on Oct 14, 2025, over alleged wire fraud and money laundering conspiracy, and for allegedly directing the operation of forced-labour scam compounds in Cambodia.The probe in Singapore involves the police and member agencies of the Anti-Money Laundering Case Coordination and Collaboration Network, including the Monetary Authority of Singapore (MAS) and intelligence agencies.The Straits Times understands that police investigators are speaking to a number of industry insiders, including Ms Chen Xiaoxuan. Read more
