A view of the Singapore skyline, January 27, 2023. Photo by Reuters
Singapore police have arrested 10 foreigners for suspected money laundering and counterfeiting offenses, in a case involving around 1 billion Singapore dollars ($737 million) in cash, property, luxury cars and other assets.
Police conducted simultaneous raids on the city-state on Tuesday to arrest the suspects, their statement said Wednesday.
Disposal restraining orders have been issued against 94 properties and 50 vehicles, with an estimated total value of over S$815 million.
Other seizures involved bank accounts, cash, luxury bags, jewelry, watches, electronic devices and some documents containing information about virtual assets.
The foreigners were between 31 and 44 years old and their nationalities are Chinese, Turkish, Cypriot, Cambodian and Ni-Vanuatu, Singapore police said.
In a separate statement, the central bank of Singapore said it was “in contact with the financial institutions (FIs) where the potentially contaminated funds have been identified. Monitoring engagements with these FIs are ongoing”, without naming the if.
