SINGAPORE: About S$1 billion (US$736 million) in assets, including properties, vehicles, luxury goods and gold bars, have been seized amid an ongoing Singapore Police Force (SPF) probe into money laundering and forgery activities.
Ten people, aged between 31 and 44, were arrested for their suspected involvement in the offences as well as for resisting arrest, the police said in a news release on Wednesday (Aug 16).
Twelve others are assisting with investigations while eight more are currently wanted by the police.
“These persons are believed to have connections among themselves. All the persons involved are neither Singapore citizens nor permanent residents.”
Those arrested are of Cypriot, Turkish, Chinese, Cambodian and Ni-Vanuatu nationalities.
The police received information about possible illicit activities, including the use of suspected forged documents that were used to substantiate the source of funds in Singapore bank accounts.
Through extensive investigations and follow-up from intelligence, including the analysis of suspicious transaction reports, the police identified a group of foreign nationals suspected to be involved in laundering the proceeds of crime from their overseas organised crime activities. These activities include scams and online gambling.
More than 400 officers mounted simultaneous raids at multiple locations islandwide on Tuesday.
The officers were from the Commercial Affairs Department, the Criminal Investigation Department, Special Operations Command and the Police Intelligence Department.
The raids, which included residences such as Good Class Bungalows (GCB) and condominiums, led to the arrest of nine men and one woman.
The police added that prohibition of disposal orders were issued against 94 properties and 50 vehicles, with a total estimated value of more than S$815 million, as well as multiple ornaments and bottles of liquor and wine.
The authorities also seized more than 35 related bank accounts with a total estimated balance of more than S$110 million for investigations and to prevent the dissipation of suspected criminal proceeds.
Also confiscated was cash amounting to more than S$23 million, more than 250 luxury bags and watches, more than 120 electronic devices such as computers and mobile phones, more than 270 pieces of jewellery, two gold bars, as well as 11 documents with information on virtual assets.
The 10 individuals who were arrested are being charged in court on Wednesday.
According to case facts provided by the police, several of the resided in Good Class Bungalows in the Holland Road and Nassim Road area, as well as in Sentosa Cove.
Continue reading...
Ten people, aged between 31 and 44, were arrested for their suspected involvement in the offences as well as for resisting arrest, the police said in a news release on Wednesday (Aug 16).
Twelve others are assisting with investigations while eight more are currently wanted by the police.
“These persons are believed to have connections among themselves. All the persons involved are neither Singapore citizens nor permanent residents.”
Those arrested are of Cypriot, Turkish, Chinese, Cambodian and Ni-Vanuatu nationalities.
The police received information about possible illicit activities, including the use of suspected forged documents that were used to substantiate the source of funds in Singapore bank accounts.
Through extensive investigations and follow-up from intelligence, including the analysis of suspicious transaction reports, the police identified a group of foreign nationals suspected to be involved in laundering the proceeds of crime from their overseas organised crime activities. These activities include scams and online gambling.
More than 400 officers mounted simultaneous raids at multiple locations islandwide on Tuesday.
The officers were from the Commercial Affairs Department, the Criminal Investigation Department, Special Operations Command and the Police Intelligence Department.
The raids, which included residences such as Good Class Bungalows (GCB) and condominiums, led to the arrest of nine men and one woman.
The police added that prohibition of disposal orders were issued against 94 properties and 50 vehicles, with a total estimated value of more than S$815 million, as well as multiple ornaments and bottles of liquor and wine.
The authorities also seized more than 35 related bank accounts with a total estimated balance of more than S$110 million for investigations and to prevent the dissipation of suspected criminal proceeds.
Also confiscated was cash amounting to more than S$23 million, more than 250 luxury bags and watches, more than 120 electronic devices such as computers and mobile phones, more than 270 pieces of jewellery, two gold bars, as well as 11 documents with information on virtual assets.
The 10 individuals who were arrested are being charged in court on Wednesday.
According to case facts provided by the police, several of the resided in Good Class Bungalows in the Holland Road and Nassim Road area, as well as in Sentosa Cove.
Continue reading...