Busted: Money laundering and the lottery effect

ON TUESDAY, Aug 15, some 400 law enforcement officers descended on sprawling bungalows and luxury apartments nestled in gentrified neighbourhoods. In one fell swoop, they arrested 10 people allegedly connected to a Fujian money laundering syndicate.

Police seized 105 properties, 50 cars (many Bentleys), hundreds of watches and luxury bags (two rare Patek Philippes worth S$8 million each and umpteen Birkins), fine wines, and oh, some loose change (S$23 million in cash). 

In so doing, they lifted the veil on what many have suspected for years - that illicit money had been flowing hard and fast into Singapore and was parked under our noses.