Singapore authorities have provided a first look at the luxury goods forfeited in connection with the country’s landmark S$3 billion money laundering case. The confiscated items, which are slated for liquidation through public auctions, include rare timepieces, designer handbags, fine jewelry, luxury vehicles, collectible Bearbrick figurines, and high-end liquor. The showcase follows the conviction and deportation of all 10 foreign nationals arrested during the August 2023 nationwide crackdown, concluding legal proceedings for the primary suspects involved in the illicit operation.
- Authorities displayed a wide array of forfeited luxury assets seized during Singapore’s largest money laundering investigation.
- Confiscated property includes luxury watches, designer bags, fine jewelry, vehicles, alcohol, and collectible items.
- All 10 foreign individuals arrested in August 2023 were convicted, served prison sentences ranging from 13 to 17 months, and have since been deported.
- More than S$940 million in assets linked to the 10 individuals was surrendered and forfeited to the state.
- The forfeited assets will be sold through auctions, with the proceeds channeled into Singapore’s Consolidated Fund.
Based in Singapore, CNA (Channel News Asia) covers global developments with an Asian perspective, with correspondents based in major cities across Asia, including Kuala Lumpur, Jakarta, Bangkok, Tokyo, Seoul and Beijing, as well as in New York, Washington D.C. and London.
Official website: https://www.channelnewsasia.com/
Original video here.
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so the proceeds go to the SG government?
Lol stupid bidders . some items already bid higher then 2nd hand market selling outside
MAINLAND China Criminals
Good. I hate for confiscated stuff to be incinerated unless it's drugs. Also hope the proceeds go to help the needy. CDC voucher also appreciated.
Some people chiong gardenia charm, some people chiong Gucci chanel
Any RTX5090 ?