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https://www.straitstimes.com/singap...ore-30-foreigners-probed-for-money-laundering
SINGAPORE - In one of the biggest anti-money laundering operations here, the Singapore Police Force (SPF) have rounded up a group of foreigners for allegedly engaging in money laundering activities.
They had allegedly snapped up good class bungalows (GCBs), high-end condominiums and owned luxury cars, amassing about $1 billion worth of assets in Singapore.
The police said it received information of possible illicit activities including the use of suspected forged documents that were used to substantiate the source of funds in Singapore bank accounts.
On the night of Aug 15, the police conducted a massive island-wide blitz, hitting several GCBs and high-end condos across Singapore simultaneously to nab several of the suspects.
Ten people, including a woman, have been arrested and are expected to be charged on Wednesday night.
They are aged 31 to 44, and are suspected to be involved in offences of forgery, money laundering, and resisting arrest.
Another 12 are assisting in investigations, while eight more people are currently on the run and have been placed on a wanted list.
In a release on Wednesday, the police said the blitz involved more than 400 officers including those from the Criminal Investigation Department, Commercial Affairs Department, Special Operations Command or riot police, and Police Intelligence Department.
The police identified the group of foreign nationals allegedly involved in laundering the proceeds of crime from their overseas organised crime activities, including scams and online gambling.
Prohibition of disposal orders were issued against 94 properties and 50 vehicles, with a total estimated value of more than $815 million, and multiple ornaments and bottles of liquor and wine.
The orders mean the suspects are not allowed to sell these properties and vehicles.
The police also seized more than 35 related bank accounts with a total estimated balance of more than $110 million for investigations and to prevent transfers of the suspected criminal proceeds.
Also seized was more than $23 million in cash, more than 250 luxury bags and watches, more than 120 electronic devices such as computers and mobile phones, more than 270 pieces of jewellery, two gold bars, and 11 documents with information on virtual assets.
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