SINGAPORE — The value of assets seized or frozen in the largest-ever money-laundering case in Singapore has swelled to more than S$2.4 billion, police said on Wednesday (20 September).
The initial amount of cash, houses, luxury cars and other assets amassed by 10 foreigners arrested on mid-August was S$1 billion. Then, early in September, prosecutors said that the figure has gone up to S$1.8 billion.
Police said in a statement that more assets were seized during additional operations, including bank accounts with a value of more than S$1,127 million, more than S$76 million cash (including foreign currencies), and S$38 million of cryptocurrencies.
As many as 68 gold bars, 294 luxury bags, 164 luxury watches, 546 pieces of jewellery, and 204 electronic devices, such as computers and mobile phones, were also on the list.
Prohibition of disposal orders were also issued against more than 110 properties and 62 vehicles with a total estimated value of more than S$1,242 million. The orders were also issued against bottles of liquor, wine and multiple ornaments.
Investigations, police said, are still ongoing.
Singapore lawmakers filed a total of 32 questions – ranging from anti-money laundering initiatives by the government to data on past suspicious transaction reports – related to the money laundering case during the latest sitting of Parliament on Monday.
In response to the queries by Members of Parliament from the People's Action Party (PAP) and Workers' Party (WP), and Non-Constituency MPs from the Progress Singapore Party (PSP), Minister of State for Home Affairs Sun Xueling said that the Ministry of Home Affairs, together with various other ministries, will respond to the queries in a ministerial statement in October.