4-10-2023 (SINGAPORE) As investigations into the sprawling billion-dollar money laundering case continue, the scope of the assets and cash involved has expanded significantly.
When the authorities first unveiled the case in mid-August, they estimated the monetary involvement to be around S$1 billion (US$730 million).
At that time, prohibition of disposal orders were issued against 94 properties and 50 vehicles. Additionally, police had seized over S$110 million from more than 35 bank accounts, cash exceeding S$23 million, over 270 pieces of jewelry, and a collection of 250 luxury bags and watches.
However, in a recent update provided by Second Minister for Home Affairs Josephine Teo in parliament on Tuesday (Oct 3), the figure has surged to over S$2.8 billion in assets linked to the case, nearly tripling the original amount.
PROPERTIES
A total of 152 properties are now subject to prohibition of disposal orders. Out of these, 94 are residential properties, comprising 60 completed resale units and 34 uncompleted units sold directly by developers. Additionally, eight properties are landed homes at Sentosa Cove, where foreign ownership restrictions do not apply.
VEHICLES
Since the initial announcement of the probe, an additional 12 vehicles have been seized, bringing the total to 62. Among the seized vehicles are luxury brands such as Bentley and Rolls-Royce. The collective value of the properties and vehicles stands at more than S$1.24 billion.
MONEY AND CRYPTO
The most recent update reveals that over S$1.45 billion has been seized from bank accounts. Alongside this, a significant amount of cash, including foreign currencies totaling more than S$76 million, as well as cryptocurrencies valued at over S$38 million, has also been confiscated.
GOLD BARS
A striking 68 gold bars have been seized, a substantial increase from the initial count of just two.
LUXURY GOODS
The quantity of luxury items confiscated has nearly doubled, totaling 1,004 pieces. This includes 294 branded bags from the likes of Hermes, Dior, Chanel, and Louis Vuitton, 164 watches including Rolex and Patek Philippe, as well as 546 pieces of jewelry.
LIQUOR AND WINE
Although no exact quantity was disclosed, it was revealed in parliament that “thousands of bottles of liquor and wine” have been seized.
