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HSBC, Morgan Stanley among creditors as money-laundering probe expands to associates

Claudia Chong &

Ng Wei Kai

Published Tue, Sep 12, 2023 · 06:06 PM
    • In one of the biggest anti-money laundering operations in Singapore, the Singapore Police Force (SPF) rounded up a group of foreigners who had amassed about S$1.8 billion worth of assets in the city-state.
    • In one of the biggest anti-money laundering operations in Singapore, the Singapore Police Force (SPF) rounded up a group of foreigners who had amassed about S$1.8 billion worth of assets in the city-state. PHOTO: SPF

    HSBC and Morgan Stanley are among the potential creditors of companies whose shareholders and directors have been linked to the recent money-laundering bust.

    More connections are surfacing as the authorities expand investigations into the associates of the 10 charged in an anti-money-laundering crackdown that has grown in value to S$1.8 billion.

    Business filings of Singapore-incorporated companies linked to 24 persons, identified by the authorities as associates of the charged, show at least six banks as creditors to eight entities.

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