Singapore Police Seize $1.7 Billion in Assets in Anti-Money Laundering Operation

Singapore Police Seize .7 Billion in Assets in Anti-Money Laundering Operation

In a recent update, the Singapore National Police confirmed that the estimated value of assets seized in an ongoing anti-money laundering operation has reached $1.7 billion. The operation, which took place last month, resulted in the arrest and charges against 10 individuals, including foreign nationals from China, Cambodia, Cyprus, and Turkey.

At the time of the initial announcement, approximately $732.2 million in assets were seized. The seized assets included gold bars, properties, luxury watches, cars, and bags. A prohibition of disposal order was also filed, preventing the sale of these assets.

According to the Singapore Police Force, a total of $820.1 million in cash and expensive items was seized during the operation. Additionally, foreign banknotes amounting to $55.6 million were confiscated. The operation also resulted in the seizure of 204 electronic devices, including mobile phones and computers.

Furthermore, the authorities seized a significant amount of jewelry valued at over $27.8 million. The prohibition of disposal orders impacted assets, including ornaments, bottles of wine, and liquor, estimated to be worth more than $878.7 million.

The ongoing investigation and subsequent arrests are related to alleged illegal activities, including scams and money laundering. The operation targeted various areas in Singapore, including River Valley, Sentosa, Bukit Timah, Orchard Road, and Tanglin.

Author: CrimeDoor

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