Three local residents were arrested in connection with the Taizi Group money laundering case, with over S$500 million in assets seized, while authorities continue to search for one suspect.
Singapore police arrested three individuals involved in the Taizi Group money laundering case, seizing or freezing over S$500 million in assets, including properties, vehicles, cash, and bank accounts. One suspect, Chen Xiuling, remains at large. The case highlights concerns over the rising threat of AI- and blockchain-facilitated fraud in Singapore's digital finance sector.