Luxury items seized in S$3bil money laundering case in Singapore handed to Deloitte

The Star

A total of 466 luxury items and 58 pieces of gold bars from the S$3 billion money laundering case have been handed over by the police to professional services firm Deloitte to manage and liquidate.  The assets were among items seized in an anti-money laundering operation that saw 10 foreigners arrested in multiple raids on Aug 15, 2023, and 17 other suspects who fled Singapore amid the probe.  Read more at https://tinyurl.com/477nr9cs  WATCH MORE: https://thestartv.com/c/news SUBSCRIBE: https://cutt.ly/TheStar LIKE: https://fb.com/TheStarOnline

Transcript

00:00In a major development from Singapore's largest money laundering case, authorities have handed

00:07over hundreds of luxury items worth millions to professional services firm Deloitte for

00:13liquidation.

00:14Police transferred 466 luxury items and 58 gold bars to Deloitte this week, marking the

00:21latest phase in managing assets from the $3 billion money laundering scandal that rocked

00:26Singapore last year.

00:29The case began on August 15, 2023, when over 400 officers from multiple police departments

00:36raided properties across Singapore in a coordinated anti-money laundering operation.

00:42Ten foreigners were arrested, while 17 others fled the country.

00:46In total, police seized $1.25 billion in non-cash assets during the investigation, including

00:53properties, cars, art, watches, jewelry and alcohol collections.

00:58Some items, including 54 properties, were liquidated earlier this year.

01:03The 10 arrested individuals were convicted in 2024, receiving jail sentences between 13

01:09and 17 months for money laundering, forgery and resisting arrest.

01:15All were subsequently deported and banned from re-entering Singapore.

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