Singapore has arrested the former captain of Tan Chi Yachts, an alleged fraud ringleader. (Photo: Getty)
Singapore police have arrested a man subject to U.S. sanctions who ran a superyacht for the alleged mastermind of one of Asia’s largest fraud networks, Bloomberg reported.
Nigel Tang Wan Bao Nabil was arrested after returning to Singapore on December 11, according to a police statement in response to inquiries from Bloomberg on Thursday (December 18). Tang is currently out on bail, according to people familiar with the matter who asked not to be named.
Tang was arrested “on suspicion of involvement in money laundering crimes,” police said in a statement. It is believed to be linked to Chen Zhi, who the United States accuses of leading a transnational criminal gang that ran a racketeering network with enslaved workers and companies linked to them.
U.S. prosecutors have accused Chen and his Prince Holdings Group of stealing funds from victims of online “pig killing” campaigns in the United States and other countries and laundering billions of dollars in illicit funds. The United States said the 38-year-old man is currently “at large.”
Tang, 32, was one of three Singapore citizens sanctioned by the United States in October over their relationship with Chan.
