A Singapore court has ordered a global freeze on assets linked to four former employees accused of misappropriating SGD74m (USD55.5m) from a Chinese businessman’s family office, according to court documents. Zhong Renhai, an ultra-high-net-worth individual, alleged that staff at his Panda Enterprise and Lee Fung International embezzled funds through inflated salaries and fraudulent transactions. A British Virgin Islands entity controlled by the accused was also implicated. The court found sufficient evidence to uphold the freeze order, rejecting the defendants’ claim of abuse of process. The case adds to scrutiny on Singapore’s wealth management sector after a recent SGD3bn money-laundering scandal. Authorities have since tightened oversight of foreign private wealth inflows.