Singapore Authorities Detain 10 Foreign Suspects, Confiscate Assets Worth S$1 Billion in Money Laundering Investigation
Singapore law enforcement has apprehended 10 foreign individuals in connection with a high-stakes investigation involving an alleged money laundering and forgery scheme, reportedly amounting to around S$1 billion ($737 million). The assets seized include cash, real estate holdings, high-end automobiles, and various valuable items.
According to official statements released on Wednesday, Singaporean police orchestrated synchronized raids across the city-state on Tuesday to apprehend the suspects involved in the intricate operation.
Furthermore, the authorities have issued orders to prohibit the disposal of 94 properties and 50 vehicles, collectively valued at over S$815 million, the Reuters reported.
The assets seized also encompass numerous bank accounts, a substantial sum of cash, luxury fashion accessories, exquisite jewelry, premium watches, electronic gadgets, and a selection of documents containing information pertaining to virtual assets.
The detained foreign nationals, ranging in age from 31 to 44, hail from diverse backgrounds, including Chinese, Turkish, Cypriot, Cambodian, and Ni-Vanuatu. Singaporean law enforcement revealed these details regarding the suspects.
In a distinct announcement, the central bank of Singapore shared that it is actively engaging with financial institutions in possession of potentially compromised funds. These ongoing supervisory interactions with the financial institutions are part of the regulatory response, although specific names of the institutions were not disclosed.
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Source: Vietnam Insider