There’s no official data to back this argument, at least not yet. But as far as the protagonists are concerned, parking their alleged ill-gotten fortunes in Singapore made sense, given the citystate’s status as a safe haven and its seamless connectivity with the rest of the world. Plonking cash into properties, gas guzzlers and multiple accounts with various banks, among other things, was a way to root themselves here.
High-end real estate. Ritzy automobiles. Luxury goods. Swanky country clubs. These are some of the things the now-infamous foreign nationals behind Singapore’s largest money laundering scandal have been splurging their money on over the last few years.
From their reportedly flamboyant spending sprees, one could argue that these individuals — all originally Chinese nationals but now holding other citizenships — could have had a hand in contributing to Singapore’s growing inflation.
