SINGAPORE, Sept 21 — The value of assets that have been seized or issued with prohibition of disposal orders in one of Singapore’s largest anti-money laundering probes has gone...
SINGAPORE, Sept 21 — The value of assets that have been seized or issued with prohibition of disposal orders in one of Singapore’s largest anti-money laundering probes has gone up to more S$2.4 billion , more than double the initial sum when news of the case first broke last month.
In a media statement yesterday evening, the police said that they had conducted further operations in relation to the group of foreign nationals suspected to be involved in laundering the proceeds of their overseas organised crime activities, including scams and online gambling.To date, the total value of assets seized or issued with prohibition of disposal orders by the police stands at more than S$2.4 billion.
On Aug 15, in first announcing the arrest of 10 foreign nationals implicated in the case, the police said that they had seized or issued prohibition of disposal orders to about S$1 billion in cash and assets.After charges were brought against the 10 people, prosecutors told the High Court earlier this month that the amount had ballooned further to S$1.8 billion.
Su Haijin, a former non-executive director of restaurant operator No Signboard Holdings who is one of the 10 accused persons in the case, was denied bail last Wednesday due to the 40-year-old being what District Judge Brenda Tan called an “extremely high” flight risk.Advertisement
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