$2.4b seized in money laundering case

The police have taken control of more than $2.4 billion worth of assets in Singapore’s worst money laundering case.

In an update on Wednesday, the police said they conducted more operations, after 10 foreign nationals were arrested in August for their alleged involvement in laundering the proceeds of their overseas organised crime activities.

The police said that during these operations, additional assets were seized and issued with prohibition of disposal orders.

The police seized bank accounts with a total estimated value of more than $1.127 billion. Cash, including foreign currencies, amounting to over $76 million was also seized.

Other confiscated items include 68 gold bars, 294 luxury bags, 164 luxury watches, 546 pieces of jewellery, cryptocurrencies worth more than $38 million and 204 electronic devices such as computers and mobile phones.

Prohibition of disposal orders were also issued against more than 110 properties and 62 vehicles worth more than $1.242 billion.

The Straits Times


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