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BT EXPLAINS

What happens to assets seized in the billion-dollar money-laundering raid?

Mia Pei

Mia Pei

Published Wed, Aug 23, 2023 · 04:33 PM
    • The total value of the properties and other goods seized in the recent raid amounts to over S$1 billion.
    • The total value of the properties and other goods seized in the recent raid amounts to over S$1 billion. PHOTO: SPF

    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.

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