(1/6)A combination image shows luxury vehicles seized during a police raid, in Singapore, in this handout image released on August 16, 2023. Singapore Police Force via Facebook/Handout via REUTERS Purchase license rights
SINGAPORE, Aug 16 (Reuters) – Singapore police have arrested 10 foreigners on suspicion of money laundering and counterfeiting, in a case involving around S$1 billion ($737 million) in cash, property, cars luxury and other assets.
Police conducted simultaneous raids across the city-state on Tuesday to arrest the suspects, according to their statement on Wednesday.
Prohibition of disposition orders were issued against 94 properties and 50 vehicles, with a total estimated value of more than S$815 million.
Other seizures included bank accounts, cash, luxury bags, jewelry, watches, electronic devices, and some documents with information about virtual assets.
The foreigners were between the ages of 31 and 44 and their nationalities include Chinese, Turkish, Cypriot, Cambodian and Ni-Vanuatu, Singapore police said.
In a separate statement, Singapore’s central bank said it has been “in contact with financial institutions (FIs) where potentially contaminated funds have been identified. Supervisory engagements with these FIs are ongoing,” without naming the FIs. .
($1 = 1.3572 Singapore dollars)
Reporting by Chen Lin in Singapore; Edited by Alison Williams
Our standards: The Thomson Reuters Trust Principles.
Discover more from PressNewsAgency
Subscribe to get the latest posts sent to your email.