More revelations are emerging from the ongoing probe of Singapore’s headline money laundering scandal, this time with the size of assets seized further growing.
The total value of assets seized from Singapore’s headline money laundering scandal has reached S$2.4 billion ($1.8 billion), according to a «Business Times» report citing figures diclosed by the city-state’s police authorities.
Included in the seized assets are bank accounts (over S$1.1 billion), cash (S$76 million), cryptocurrencies (S$38 million), 110 properties and 62 vehicles (the former two have a total value of over S$1.2 billion). The seizure also includes 294 luxury bags, 164 luxury watches, 546 pieces of jewelry, 204 electronic devices, liquor, wine and ornaments.
The case was first made publicly known on August 16 and the value of the assets seized was revealed to be S$1 billion. Ten foreign nationals were arrested and slapped with charges related to money laundering. Court proceedings have commenced and all 10 accused have been denied bail.
