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 at 61: How we can ensure opportunity, security and ownership for the next generation
With tech for fact-checking to cancer care, Singapore startups aim beyond home
Vietnam seeks US$76 billion a year from capital markets to ease reliance on banks
How BYD disrupted Singapore’s car market – and why the strategy is turning on itself
