Multiple individuals linked to Singapore have been identified as part of the intricate corporate network involving China-based entities Prince Group and Huione Group, which are under international scrutiny for alleged involvement in large-scale financial crimes.
Key figures include Chen Sokly, Dai An, and Xiong Huajun, who serve as beneficiary owners of Oceanic Opportunity Fund PCC, a Mauritius-registered vehicle with investments in Chen Zhi’s Skyline Investment Management. The trio also hold directorship roles in Meritwise Group Public, another Mauritius-based firm connected to the network. Since 2017, Xiong has been instrumental in establishing companies under Chen Zhi’s “Huntsman” brand across Singapore, the United States, and Japan.
The Prince Group and Huione Group have attracted significant attention due to allegations of illicit activities. Chen Sokly reportedly claimed that Prince Group earned up to US$30 million daily at its operational peak. Between 2021 and 2025, Huione Group is accused of laundering over US$4 billion in illicit proceeds, while the value of Prince Group’s cryptocurrency assets seized by the U.S. Justice Department amounted to approximately US$15 billion. Investigations revealed that complex transactions involving the conversion of virtual assets into various currencies and movement across multiple digital wallets were used to mask the laundering process.
Chinese nationals closely affiliated with the groups include former Huione chairman Li Xiong, who was arrested and extradited to Beijing in April 2026, following Chen Zhi’s extradition in January. Corporate filings indicate Li’s involvement in Cocosili Investment, a real estate firm in Cambodia linked to Dai An and Xiong Huajun. This company shares a Phnom Penh office address with Huione’s life insurance subsidiary.
Dai An, described by U.S. Treasury sanctions as a senior leader in Prince Group, received Cambodian citizenship in 2017, legally changing his name from Dai Dewen. He maintains connections to Singapore, where he is listed as a director of two companies registered at Parkview Square. When approached, Dai denied involvement in the companies’ operations, stating his role was limited to administrative purposes and denying any knowledge of alleged illicit activities. However, property records reveal that Dai purchased an apartment adjacent to Chen Sokly’s residence in Singapore, suggesting a closer association.
Xiong Huajun also maintains significant real estate ties in Singapore, including the acquisition of a luxury apartment on Nassim Road for S$18.8 million in 2019 and previous registration at a Leedon Heights address. The property later transferred ownership to another Chinese national in 2024. Attempts to reach Xiong for comment were unsuccessful.
Flight logs confirm that in April 2019, Sokly, Dai, and Xiong traveled together to Palau on a private jet operated by Hu Xiaowei, a known associate sanctioned by the United States and the United Kingdom in October 2025. Hu, considered second-in-command to Chen Zhi within Prince Group, faces widespread sanctions that by June 2026 included all his known aliases.
Other individuals connected to the network include Singaporeans Karen Chen Xiuling and Cliff Teo Kang Yeow. Both are linked to Mauritius-based Meritwise Group Public and Chen Zhi’s operations. Karen Chen is subject to an outstanding Singapore police arrest warrant, while Teo is reportedly evading authorities in Taiwan, where investigations into Prince Group’s operations continue.
These developments shed light on a sprawling transnational network implicated in sophisticated financial crimes, involving layered corporate structures, cross-border transactions, and illicit proceeds flowing through multiple jurisdictions in Asia, Africa, and the Americas. Law enforcement and regulatory bodies remain engaged in ongoing investigations into the group’s activities and their associates worldwide.