The Monetary Authority of Singapore is investigating DW Capital Holdings, a family office related to Chen Zhi of the "Prince Group."

ChainCatcher news, according to Lianhe Zaobao, a family office in Singapore has once again become the focus due to a fraud case involving the Cambodian Prince Group. The head of the Prince Group, Chen Zhi, established the Singapore company DW Capital Holdings (DWC) in 2018 to manage family office assets, claiming to manage over 60 million Singapore dollars.

The company claims to meet the conditions of the Monetary Authority of Singapore's 13X scheme and enjoys tax exemptions. Its managed assets include 10 million Singapore dollars in auto financing, 30 million Singapore dollars in boutique brewing, and approximately 20 million Singapore dollars in yacht management and other ancillary services. Currently, the Monetary Authority is investigating whether the company has violated regulations.