Some 22 luxury condos linked to S$3 billion money laundering case resold for S$116 million since August 2024
About S$420 million, comprising cash and liquidated proceeds, has been paid into the Consolidated Fund as at end-March
Add BT as a preferred source
[SINGAPORE] Since Singapore’s largest money laundering case concluded more than a year ago, several luxury condominium units previously owned by persons linked to it have been resold.
Seventeen units at CanningHill Piers in Clarke Quay owned by Wang Ruiyan and Wu Shuiying have been sold since August 2024 for a total of S$81.8 million, Urban Redevelopment Authority (URA) caveat data showed. Wang is the wife of convicted money launderer Vang Shuiming, while Wu is an associate linked to the case, which involved assets worth more than S$3 billion.
Also since last August, five completed units linked to persons in the case have been resold for S$34.2 million in total, bringing the total value of units resold to at least S$116 million.
TRENDING NOW
Singtel H2 net profit down 20.9% at S$2.2 billion; telco open to Aussie minority partner in Optus
Yeo’s, Tiger Beer and now Gardenia – flight of food manufacturing from Singapore might be just as planned
Apex court rejects resulting trust claim in 99-1 condo dispute
Singtel seeks clarity on participating in telco consolidation after M1-Simba fallout; weighs Reit IPO
