Authorities seize $39 million from sale of building linked to scam probe

The property at 2 Jalan Kilang Barat (above) was purchased in 2023 by 2JKB, a firm set up by the daughter of local businessman Tan Yew Kiat.

PHOTO: ARIFFIN JAMAR

Published Oct 04, 2026, 05:00 AM

Updated Oct 04, 2026, 05:00 AM

A commercial building at 2 Jalan Kilang Barat, linked to Cambodia’s Prince Group and a cross-border scam probe, was sold to Jackspeed Holdings for $39 million, but the sale proceeds were seized by authorities.

The seller of the property is assisting with money laundering investigations tied to transnational cyber fraud involving Chen Zhi.

Jackspeed uses the building for its businesses, including Carazee dealership, while the seller Chen Xiaoxuan remains connected to several companies at the same address.

SINGAPORE – A 32,000 sq ft commercial building linked to Cambodia’s Prince Group has been taken over by a local automotive firm in a private deal, but proceeds from the sale have been seized by the authorities.

The Straits Times understands that 2 Jalan Kilang Barat, located in the Bukit Merah vicinity, changed hands for $39 million in a deal brokered in June and completed in September.

The buyer is Jackspeed Holdings – a regional automotive company involved in motor financing, retail, leasing insurance and leather upholstery for motor vehicles and aircraft.

The 99-year lease for the property has at least 36 years left in its tenure. It was purchased in 2023 by 2JKB, a firm set up by the daughter of local businessman Tan Yew Kiat.

Tan, whom police arrested in November 2025 over his suspected involvement in money laundering offences, is said to have been involved in activities linked to Cambodia-based Prince Group and its chairman Chen Zhi.

The authorities in the US had described Prince and its affiliated entities as part of a transnational cyber fraud and money laundering syndicate .

A police spokesperson told ST that investigations in Singapore into entities and individuals linked to Chen Zhi are ongoing.

“As part of ongoing investigations, police had seized the proceeds from the sale of the commercial property at 2 Jalan Kilang Barat. We are unable to comment further given ongoing investigations,” said the spokesperson.

Checks by ST showed that Chen Xiaoxuan – Tan’s 25-year-old daughter – incorporated 2JKB in December 2022, just seven months before it secured the property.

The building came into the cross-hairs in the wake of a US Treasury sanctions list published in October 2025, which identified 2 Jalan Kilang Barat as the address of 11 companies directly linked to Cambodian national Chen Zhi.

Three companies linked to Singaporean Karen Chen Xiuling were also identified.

The Prince Group chairman, who was born in China, was arrested in Phnom Penh and extradited to Beijing at the start of the year, where he is awaiting further proceedings.

A warrant of arrest in Singapore remains for Karen Chen, who is believed to have fled to Cambodia.

Checks by ST showed ESR-LOGOS REIT held the deed for the commercial property before it reportedly divested the property for $35.3 million in November 2022. The property was later put up for sale.

Less than three years after purchasing the property, 2JKB attempted a sale of the building in December 2025 for $50 million. This was one month after Tan was arrested.

The listing was taken down three days later and a caveat to prevent the sale of the building was filed by the authorities. The police later revealed that Chen Xiaoxuan was assisting with the Chen Zhi probe.

The caveat was later lifted to allow the sale of the commercial property to Jackspeed Holdings.

Veteran criminal lawyer S.S. Dhillon told ST that the Singapore Police Force can seize the proceeds of a sale if it suspects or can prove that the money came from benefits of criminal conduct.

“If police are convinced these are benefits of criminal conduct, they will seize it first and then deal with it later.

“The owner or any claimant can come forward to contest the seizure, if not, the state will take all the money,” said Dhillon, adding that a court case will determine how the sale proceeds are benefits from criminal conduct.

ST understands that the seizure has not been contested.

Yap Kian Peng, Jackspeed’s chairman, told ST that he looked into operating a car dealership at 2 Jalan Kilang Barat around Dec 18, 2025, incorporating Carazee, a premium used-car dealership, as a wholly owned subsidiary on Jan 20, 2026.

During that time, Yap was informed by a banker that the building had been put on sale. Yap said that he was initially not keen to buy the property. However, he felt that it would be to Jackspeed’s disadvantage if the company took up a lease of the showroom and the property ended up being bought by a competitor.

Jackspeed thus began the process of purchasing the property on Jan 26. This included entering into a Deed of Call Option, which is a legal agreement for Jackspeed to have the exclusive right to buy the property while the necessary work and approvals are obtained.

Jackspeed’s head office is located at Henderson Road, which is also in the Bukit Merah area.

Yap said that the nine-storey building now has five tenants. Other than Carazee, there is a car audio distributor, an information technology company and two interior design studios.

Carazee is a fully owned subsidiary of Jackspeed Holdings. Since January, it has taken over the ground-floor space previously occupied by Supreme Cars, a dealership where Chen Xiaoxuan was previously employed as a marketing director.

Carazee, one of the tenants of 2 Jalan Kilang Barat, is a fully owned subsidiary of Jackspeed Holdings. It has takem over the ground-floor space previously occupied by Supreme Cars, a dealership where Chen Xiaoxuan was previously employed as a marketing director. PHOTO: ARIFFIN JAMAR

Carazee, one of the tenants of 2 Jalan Kilang Barat, is a fully owned subsidiary of Jackspeed Holdings. It has takem over the ground-floor space previously occupied by Supreme Cars, a dealership where Chen Xiaoxuan was previously employed as a marketing director.

Supreme Cars is known in the motor trade for specialising in high-end used cars. Its former directors, Eric Chua and Devin Koo, are now on Carazee’s payroll as the directors of sales and marketing, and purchasing, respectively.

Speaking to ST, Chua said Chen Xiaoxuan had partnered with Supreme Cars to tap its network and sell off vehicles she had taken over from her other businesses.

Chua said Chen Xiaoxuan had never been a stakeholder in Supreme Cars and the dealership was not related to similarly named affiliate companies she had incorporated.

Both Chen Xiaoxuan and her father were separately involved in some of the companies, which include Supreme Cars Financial Services, Supreme Autocare and Supreme Gem.

Checks by ST found that Chua and Koo had been appointed directors in Supreme Autocare on the same day Chen Xiaoxuan’s directorship ceased.

Business records show Chua and Koo are also directors in Supreme Cars Leasing, Supreme Insurance Services Agency and SC Financial Services. Chen and her father are not on the records of those companies.

Chen Xiaoxuan did not respond to ST’s attempts to reach her. She remains a director in 2JKB, Supreme Cars Financial Services, and Cars and Coffee Leasing.

Business records show all three companies are still registered with the 2 Jalan Kilang Barat address.

Of the firms sanctioned by the US in October 2025, Alphaconnect Investments, Alphaconnect Investments II, Drew Properties, Drew Properties II, Binary Properties, Huntsman Investments, Majesty Properties, and Greenbay Properties remain registered at the same address.

Andrew Wong is a correspondent with The Straits Times’ court and crime desk.

Lee Nian Tjoe is senior transport correspondent at The Straits Times, where he also oversees the Motoring section.

Internet crimes and scams

位于 Jalan Kilang Barat 2 号（上图）的房产于 2023 年被 2JKB 公司购入，该公司由当地商人 Tan Yew Kiat 的女儿创立。

照片：阿里芬·贾马尔

发布于 2026 年 10 月 4 日上午 5:00

更新于2026年10月4日上午5:00

位于 Jalan Kilang Barat 2 号的一栋商业大楼与柬埔寨王子集团和一起跨境诈骗调查有关，该大楼以 3900 万美元的价格出售给了 Jackspeed Holdings，但出售所得款项被当局没收。

该房产的卖方正在协助调查与陈志有关的跨国网络诈骗洗钱案。

Jackspeed 将该建筑用于其业务，包括 Carazee 经销店，而卖家陈晓轩仍然与同一地址的几家公司保持联系。

新加坡——与柬埔寨王子集团有关联的一栋 32,000 平方英尺的商业大楼已被一家当地汽车公司通过私人交易收购，但出售所得款项已被当局没收。

据《海峡时报》了解，位于武吉美拉附近的 Jalan Kilang Barat 2 号房产于 6 月达成交易，9 月完成交易，成交价为 3900 万美元。

买家是 Jackspeed Holdings，这是一家区域性汽车公司，业务涉及汽车金融、零售、租赁、保险以及汽车和飞机的皮革内饰。

该物业的99年租约至少还有36年才到期。它于2023年被2JKB公司购得，该公司由当地商人陈耀杰的女儿创立。

警方于 2025 年 11 月逮捕了 Tan，他涉嫌参与洗钱犯罪活动。据称，Tan 参与了与总部位于柬埔寨的王子集团及其董事长陈志有关的活动。

美国当局将 Prince 及其关联实体描述为跨国网络欺诈和洗钱集团的一部分。

警方发言人告诉《海峡时报》，新加坡正在对与陈志有关的实体和个人进行调查。

发言人表示：“作为正在进行的调查的一部分，警方已查封位于 Jalan Kilang Barat 2 号的商业地产出售所得款项。鉴于调查仍在进行中，我们不便发表更多评论。”

《海峡时报》的调查显示，陈晓璇（谭的25岁女儿）于2022年12月注册成立了2JKB公司，距离该公司获得该房产仅7个月。

2025 年 10 月，美国财政部公布了一份制裁名单，该名单指出 Jalan Kilang Barat 2 号是与柬埔寨国民陈志直接相关的 11 家公司的地址，该建筑也因此成为制裁目标。

调查还发现了三家与新加坡人陈秀玲有关联的公司。

出生于中国的太子集团董事长于今年年初在金边被捕，并被引渡到北京，目前正在等待进一步的审理。

新加坡仍对凯伦·陈发出逮捕令，据信她已逃往柬埔寨。

ST 的调查显示，ESR-LOGOS REIT 曾持有该商业地产的产权，据报道，该公司于 2022 年 11 月以 3530 万美元的价格出售了该地产。之后，该地产被挂牌出售。

不到三年后，2JKB 于 2025 年 12 月试图以 5000 万美元的价格出售该物业。而就在一个月前，谭某被捕。

三天后，该房产信息被撤下，当局也提交了禁止出售该建筑的警告信。警方后来透露，陈晓轩曾协助调查陈志案。

后来，该限制被解除，允许将该商业地产出售给 Jackspeed Holdings。

资深刑事律师 SS Dhillon 告诉《海峡时报》，如果新加坡警方怀疑或能够证明出售所得款项来自犯罪行为的收益，则可以没收这些款项。

“如果警方确信这些是犯罪行为带来的好处，他们会先没收这些物品，然后再进行处理。”

迪伦说：“所有者或任何索赔人都可以站出来对扣押提出异议，否则，国家将拿走所有钱。”他还补充说，法庭案件将决定出售所得是否属于犯罪行为的收益。

据ST了解，此次扣押并未受到质疑。

Jackspeed 的董事长叶建平告诉《海峡时报》，他计划在 2025 年 12 月 18 日左右在 Jalan Kilang Barat 2 号经营一家汽车经销店，并于 2026 年 1 月 20 日将高端二手车经销店 Carazee 纳入其全资子公司。

当时，叶先生从一位银行家那里得知，这栋楼已经挂牌出售。叶先生表示，他起初并不热衷于购买这处房产。然而，他认为如果杰克斯皮德公司租下了这间展厅，而最终房产却被竞争对手买走，这对公司来说将非常不利。

因此，Jackspeed 于 1 月 26 日开始了购买该房产的流程。这包括签订一份认购权契约，这是一项法律协议，赋予 Jackspeed 在获得必要的工程和批准之前独家购买该房产的权利。

Jackspeed 的总部位于 Henderson Road，该路段也位于 Bukit Merah 地区。

叶先生表示，这栋九层楼的建筑目前有五家租户。除了Carazee之外，还有一家汽车音响经销商、一家信息技术公司和两家室内设计工作室。

Carazee是Jackspeed Holdings的全资子公司。自1月份以来，该公司接管了之前由Supreme Cars占据的一楼空间，陈晓轩此前曾担任Supreme Cars的营销总监。

Carazee是位于Jalan Kilang Barat 2号的租户之一，也是Jackspeed Holdings的全资子公司。该公司接管了原Supreme Cars汽车经销店的一楼空间，陈晓轩曾担任Supreme Cars的市场总监。照片：ARIFFIN JAMAR

Carazee是Jalan Kilang Barat 2号的租户之一，它是Jackspeed Holdings的全资子公司。它接管了之前由Supreme Cars占据的一楼空间，陈晓轩之前在Supreme Cars担任市场总监。

Supreme Cars在汽车行业以专营高端二手车而闻名。其前任董事Eric Chua和Devin Koo现已加入Carazee，分别担任销售和市场总监以及采购总监。

蔡女士在接受《海峡时报》采访时表示，陈晓璇已与Supreme Cars合作，利用其网络出售她从其他业务中接管的车辆。

蔡女士表示，陈晓萱从未持有Supreme Cars的股份，而且这家经销店与她注册成立的同名关联公司没有任何关系。

陈晓萱和她的父亲都分别参与了部分公司的运营，其中包括至尊汽车金融服务公司、至尊汽车护理公司和至尊宝石公司。

《海峡时报》的调查发现，蔡和顾在陈晓轩卸任董事的同一天被任命为至尊汽车护理公司的董事。

商业记录显示，蔡女士和顾女士也是Supreme Cars Leasing、Supreme Insurance Services Agency和SC Financial Services的董事。陈女士和她的父亲则不在上述公司的董事名单中。

陈晓璇未回复《海峡时报》的联系请求。她目前仍担任2JKB、Supreme Cars Financial Services和Cars and Coffee Leasing的董事。

商业记录显示，这三家公司仍然注册在 Jalan Kilang Barat 2 号地址。

2025 年 10 月，美国对以下公司实施制裁：Alphaconnect Investments、Alphaconnect Investments II、Drew Properties、Drew Properties II、Binary Properties、Huntsman Investments、Majesty Properties 和 Greenbay Properties，这些公司仍注册在同一地址。

Andrew Wong 是《海峡时报》法庭与犯罪新闻部的记者。

李念祖是《海峡时报》的高级交通记者，同时负责汽车版块。

网络犯罪和诈骗