Continue reading this on our app for a better experience

Open in App
Home News Regulatory Action

Value of assets seized as part of money laundering probe increases to $2.4 billion

The Edge Singapore
The Edge Singapore • 1 min read
Value of assets seized as part of money laundering probe increases to $2.4 billion
Photos: Singapore Police Force
Font Resizer
Share to Whatsapp
Share to Facebook
Share to LinkedIn
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

The value of assets seized or frozen in Singapore's largest money laundering case has increased to more than $2.4 billion, according to the Singapore Police Force, which has been conducting further operations.

The haul is now more than double from the initial figure put at $1 billion when the case first burst into the open last month.

According to the police on Sept 20 the assets consist of properties, luxury cars, cash, fine wine and liquor, handbags and other assets.

Notably, there are now more than 110 properties and 62 vehicles worth $1.24 billion seized and issued with prohibition of disposal orders.

The list also includes bank accounts with more than $1.1 billion, up from $110 million initially, and cash of more than $76 million, up from $23 million earlier.

There are also 68 gold bars, 294 luxury bags and 164 luxury watches, 546 pieces of jewellery, up from more than 270 previously, as well as 204 electronic devices such as computers and mobile phones.

See also: SGX RegCo issues notice of compliance to Boustead and Boustead Projects

The 10 suspects have been arrested and denied bail.

Investigations are ongoing.

Highlights

New IHH Healthcare CEO Nair lays out growth plans
Company in the news

New IHH Healthcare CEO Nair lays out growth plans

×
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
© 2024 The Edge Publishing Pte Ltd. All rights reserved.