11 More Properties Seized In S$1 Billion Money Laundering Case, Bringing Total To 105
Earlier this week, the Singapore Police Force (SPF) revealed the outcome of islandwide money-laundering raids which saw nearly S$1 billion in assets and cash seized, frozen, or issued Prohibition of Disposal Orders.
They have since issued Prohibition of Disposal Orders for 11 more properties, bringing the total number of properties with such orders to 105.
These properties reportedly include seven detached bungalows at Sentosa Cove, 79 condominium units, and 19 commercial or industrial spaces.
Police seize 11 more properties in billion-dollar money laundering probe
On Friday (18 Aug), the police issued a statement providing an update on the case.
Citing the statement, The Straits Times (ST) said that SPF has issued Prohibition of Disposal orders on 105 properties, 11 more than the initial 94.
Source: Sentosa Cove Singapore on Facebook, for illustration purposes only
In total, these properties are reportedly worth S$831 million and include:
- Seven detached bungalows at Sentosa Cove
- 79 condominium units
- 19 commercial or industrial spaces
Of the 79 condominium units, 19, or about 25% of them are still under construction.
According to Channel NewsAsia (CNA), the properties belong to:
- “Persons under investigation” — referring to those already under arrest or wanted by the police
- Their spouses, or
- Companies linked to persons under investigation or their spouses
The police also clarified that the Good Class Bungalows (GCB) where the arrests happened are not under the suspects’ ownership.
In fact, these GCBs are not among the 105 properties for which SPF issued Prohibition of Disposal orders.
Arrested individuals either on Employment or Dependent Pass
The Ministry of Manpower (MOM) also issued a statement on the travel documents that the 10 arrested foreigners were holding, reported ST.
According to the ministry, the 10 individuals were either on Employment Passes (EP) or Dependent Passes (DP).
MOM stressed that they’ll take the “necessary action” against these individuals if they’re found to have committed “serious offences”.
All 10 of them are currently under police remand.
It was recently revealed that the suspect who jumped off his GCB balcony to evade arrest was formerly the director of No Signboard Holdings.
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Featured image adapted from Sentosa Cove, for illustration purposes only.
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