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105 properties valued at S$831 million tied to S$1 billion money laundering case

On Friday (18 Aug), the Singapore Police Force disclosed that 11 more properties were added to prohibition of disposal orders in a S$1 billion anti-money laundering case involving non-resident Fujian individuals.

This raises the total to 105 properties under such orders, restraining their sale by suspects.

The portfolio includes assets worth $831 million, comprising 7 Sentosa Cove bungalows and 79 condominium units, 19 under construction.

In a separate statement, the Ministry of Manpower (MOM) disclosed that the 10 foreigners, consisting of nine men and one woman aged between 31 and 44, held Employment and Dependant Passes.



SINGAPORE: On Friday (18 Aug), the Singapore Police Force (SPF) revealed that an additional eleven properties have been subjected to prohibition of disposal orders in the S$1 billion anti-money laundering case involving individuals from Fujian who are not residents.

This brings the total count of properties under such orders in this case to 105, following the previous issuance of orders for 94 properties.

These orders effectively restrict the sale of these properties by the suspected individuals.

The collection of 105 properties, estimated to hold a combined value of S$831 million, encompasses various assets, including seven detached bungalows situated at Sentosa Cove, as well as 79 condominium units, with 19 of them still in the construction phase.

Additionally, 19 commercial and industrial spaces have been added to the list of properties with the prohibition of disposal orders.

The police clarified that these properties are under the ownership of individuals who are currently under investigation.

This includes individuals who have been apprehended, those who are sought after by law enforcement, their marital partners, or businesses associated with these individuals.

The police also emphasized that the luxurious good-class bungalows (GCBs) where the Fujian individuals were apprehended during the recent islandwide crackdown on money laundering are not registered under their ownership.

Importantly, these particular GCBs are not among the 105 properties subjected to prohibition of disposal orders.

“These GCBs are not part of the 105 properties issued with prohibition of disposal orders,” the police said.

“The Police have neither seized nor issued prohibition of disposal orders against any GCBs in relation to this case.”

The suspects lived in residences located in areas such Sentosa Cove, Tanglin, Orchard, Holland and River Valley.

MOM: all the arrested foreigners held Employment and Dependant Passes

In a separate statement on Friday, the Ministry of Manpower (MOM) disclosed that the 10 foreigners, consisting of nine men and one woman aged between 31 and 44, held Employment and Dependant Passes.

MOM said they will take the necessary action against them if serious offences are disclosed, in consultation with the Police and the Attorney-General’s Chambers.

“All employers and work pass applicants must declare that all the information contained in their work pass applications are true and correct”.

“This includes company details and applicants’ personal particulars, as well as work experience, salary and qualifications,” it added.

“MOM will assess all applications and look into any suspicious information.”

On Wednesday (16 Aug), the Singapore Police Force (SPF) announced a raid involving over 400 officers across the island in a crackdown on money laundering and forgery activities, resulting in the historic seizure of assets amounting to roughly S$1 billion (US$736 million), which shocked the entire Island.

Ten individuals, with diverse nationalities but a common Fujian heritage, were arrested on Tuesday and charged in court on Wednesday night with forgery, money laundering, and resisting arrest.

Among them, there is a wide range of nationalities represented, including Cypriot, Turkish, Chinese, Cambodian, and Ni-Vanuatu.

Additionally, twelve individuals are aiding with current investigations, and eight are on the police’s wanted list.

This high-profile money laundering case has sent shockwaves throughout the entire island, prompting questions about why some of the suspects have seemingly been residing in Singapore for extended periods, dating back as early as 2021.

Singapore Chinese media Lianhe Zaobao earlier reported that one of the arrested individuals, a Chinese national from Fujian, is alleged to have acquired 20 units at CanningHill Piers for an estimated S$85 million in June last year.

Notably, one of the suspects, Su Haijin, was reportedly a shareholder or director in multiple companies and had purportedly received S$36.37 million for a pair of adjacent bungalows in Sentosa Cove.

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“Yau tak chun🥶 『有得震,無得睏』 😵‍💫mou tak fun” Chua TP of Jinjiang, FJ descent and his associates at the sCCCI – most notably his very closest, one who goes by the nicknames『矮佬黄』、『短舌成』、『短根成』、”Shorty Short-tongued👅Wong (KS)” of that MAS (not central bank lah, please, alamak🤦🏻) fiasco before he was ‘de-cabinated’ – as well as also not a few from the Hokkien Huay Kuan must right now be shaking & trembling with nonstop fright and having sleepless nights in the last few days or so and/or waking up in cold sweat🥶 with their bedsheets fully soaked in their own wee and pee🫢🤭😄 not knowing… Read more »

I shared my concern in an open letter on 18 May 2023 that my company bank account with OCBC was taken over by someone without my authority and knowledge. Until today, I still have not heard from OCBC how this could have happened.

In light of the seriousness of the billion-dollar money laundering case recently, I beg and urge OCBC to let me know what had happened to the stolen bank account.

Who believes there is no such laundering or corruption in sg before this case? Haha

You mean only now but never before got corruption?