BT EXPLAINS
What happens to assets seized in the billion-dollar money-laundering raid?
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ELEVEN more properties were issued with prohibition-of-disposal orders last Friday (Aug 18), adding to the haul in the police’s recent anti-money laundering bust. This brings the total value of properties seized in the raid to S$831 million.
Including other goods, such as luxury watches and bags, over S$1 billion worth of assets has been amassed.
On Wednesday, public prosecutors said intensive investigations are still at a preliminary stage. They have requested that the 10 accused be denied bail given the risks of collusion and evidence contamination.
