Singapore police arrested 10 foreigners for alleged forgery and money laundering charges. A police statement announced that prohibition of disposal orders were imposed against 94 properties and 50 vehicles valued at over S$815 million.

Other seized assets included various luxury items, electronic devices, and bank accounts, bringing the total assets impacted by the case to S$1 billion ($737 million). Almost all the arrested foreigners were in possession of foreign passports likely issued by the People’s Republic of China. The foreigners ranged in age from 31 to 44 and were nationals of China, Turkey, Cyprus, Cambodia, and Vanuatu. The Singapore central bank stated that it is in touch with financial institutions holding potentially tainted funds.

Read More:

https://www.reuters.com/world/asia-pacific/singapore-arrests-10-foreigners-seizes-s1-bln-assets-money-laundering-probe-2023-08-16/