OCBC moves to recover over S$6 million owed on mortgages for assets linked to money laundering case
The bank is among several others that have been in the process of recovering funds
Add BT as a preferred source
OCBC has filed several claims in the High Court seeking over S$6 million from three foreign nationals who are possibly linked to the S$3 billion money laundering case.
In court documents seen by The Business Times, claims were initiated against Xu Haika and Wu Yamei, who had purchased two three-bedroom units on the 43rd floor of South Beach Residences.
Lin Baoying, one of the 10 convicted in the case, as well as Su Yongcan, who is a person of interest to the police, had bought a unit in the same development.
TRENDING NOW
Singapore developer in limbo after Timor-Leste’s shock scrapping of major township project
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
US-China summit: Trump sees ‘better’ ties, Xi warns over Taiwan, as talks conclude
That ‘cheap’ Malaysia condo could cost Singapore buyers far more than they think
