Singapore police seized 1 billion assets and arrested 10 foreigners suspected of money laundering

Odaily Planet Daily News Singapore police recently conducted simultaneous raids across the country and arrested 10 foreigners (mostly Chinese and Cambodians) suspected of money laundering and forgery of documents. Another 12 people are assisting the investigation and eight are wanted. The total value of the assets seized by the police in this operation was about S$1 billion, including more than 115 million cash, real estate, cars, electronic equipment, jewelry, and 11 documents containing virtual asset information. Funds in related bank accounts were also frozen. The 10 non-Singaporean citizens or permanent residents are suspected of using forged documents to launder money for overseas criminal gangs. They will face charges including money laundering and forgery of documents. The Singapore police stated that they will continue to investigate and do not rule out the subsequent deposit of more assets and accounts.