SINGAPORE, April 16 (Reuters) – In a case involving over S$1 billion ($737 million) in cash, houses, luxury automobiles, and other assets, Singapore police detained ten foreigners for alleged money laundering and forgeries.
The police launched simultaneous raids around the city-state on Tuesday to apprehend the individuals, according to a statement released on Wednesday.
Prohibition of disposal orders were issued against 94 properties and 50 vehicles worth more than S$815 million.
Bank accounts, cash, luxury bags, jewelry, watches, electronic equipment, and documents containing information on virtual assets were also seized.
The foreigners ranged in age from 31 to 44, and their nationalities included Chinese, Turkish, Cypriot, Cambodian, and Ni-Vanuatu, according to Singapore police.
The Singapore central bank stated in a separate statement that it has been “in touch with the financial institutions (FIs) where the potentially tainted funds have been identified.” Supervisory contacts with these FIs are underway,” but the FIs are not named.