"Prince Group" leader Chen Zhi was exposed to have been "black eat black" in Singapore: over 31 million yuan was "embezzled" by his subordinates

Chen Zhi, the founder of the "Prince Group", a Cambodian electricity-related crime syndicate that has been investigated by the police in many countries, was "blackmailed" by David Wong, the sole head of the family office in Singapore. It is understood that David Huang was removed from his post in July 2021, and Chen Zhi filed multiple lawsuits against David Huang between 2021 and 2022, accusing him of "embezzling" 5.84 million Singapore dollars (about 31.91 million yuan) in his bank account. According to the report, there are more than 80 related legal documents.
People close to Mr. Chen say that while Prince Group has expanded rapidly, Mr. Huang has assembled a new team for him and set up a series of companies to build relationships with more than half a dozen big banks. Mr. Huang's main project is understood to be a company called CMFO, which claims to "serve Asia's ultra-high net worth families," as well as being involved in sectors such as technology and real estate. Mr. Huang is also involved in foreign exchange trading and bond investing, according to the documents, and has authorized engagement letters and signature rights for multiple accounts.