Assets involved in anti-money laundering probe balloon to S$2.4 billion

[The_King]

ASSETS seized in Singapore’s biggest anti-money laundering blitz have swelled to S$2.4 billion, the Singapore Police Force announced on Wednesday (Sep 20). 

These include bank accounts with an estimated value of more than S$1.127 billion, and cash – including foreign currencies – amounting to more than S$76 million. Cryptocurrencies of more than S$38 million and 204 electronic devices such as computers and mobile phones were also seized. 

In addition, the police seized 68 gold bars, 294 luxury bags, 164 luxury watches and 546 pieces of jewellery. 

 

Prohibition of disposal orders were also issued against more than 110 properties and 62 vehicles, with a total estimated value of more than S$1.24 billion. Multiple bottles of liquor, wine and ornaments were also issued these orders, which means they cannot be sold. 

Investigations are ongoing, the police added.

The new figure was released in response to media queries, the police said.

 

 

It had conducted further operations in relation to the foreign nationals suspected to be involved in laundering the proceeds of their overseas organised crime activities, including scams and online gambling.

The anti-money laundering case had first come into public knowledge on Aug 16, when the police on Aug 15 rounded up a group of foreign nationals after raiding several Good Class Bungalows and condominiums simultaneously.

The targeted areas included Tanglin, Bukit Timah, Orchard Road, Sentosa and River Valley.

The assets seized, frozen or issued prohibition of disposal orders at the time totalled around S$1 billion.

Ten foreign nationals were slapped with money laundering-related charges. These foreign nationals carried passports from countries such as Cambodia, Cyprus, Turkey and China.

Court proceedings have begun against the 10 accused. During one hearing, the amount of assets involved was revealed to have risen to S$1.8 billion.

All 10 accused have been denied bail, as they are deemed to be flight risks and may collude with each other or with witnesses.

[coffeenut]

Quote

 110 properties and 62 vehicles, with a total estimated value of more than S$1.24 billion

 

So the sellers, agents and government agencies which facilitated the transactions how? 

[The_King]

1 minute ago, coffeenut said:

 

So the sellers, agents and government agencies which facilitated the transactions how? 

not enough

[pigpigoink]

moi ish just need the 1 mil out of the bil ...

[Bigbird]

1 hour ago, coffeenut said:

 

So the sellers, agents and government agencies which facilitated the transactions how? 

 

You should know poopies pattern from history liao!   Tio bo Mr Gan?

 

NO BLAME CULTURE!

[Bigbird]

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poopies need to save face lah!