[1/6]This handout photo released on 16 August 2023 shows a composite picture of banknotes seized during a police raid in Singapore.Singapore Police, via Facebook/handout, via REUTERS Acquisition of license rights
SINGAPORE, Aug 16 (Reuters) – Singapore police suspect money laundering and counterfeiting crimes in a case involving around S$1 billion ($737 million) in cash, real estate, luxury cars and other assets. arrested 10 foreigners.
Police conducted a sweep across the city-state on Tuesday to arrest the suspect, a statement Wednesday said.
94 properties and 50 vehicles have been issued with restraining orders, with an estimated total value of more than S$815 million.
Other seizures included bank accounts, cash, luxury bags, jewelry, watches, electronic devices, and some documents with information on virtual assets.
Singapore police said the foreigners were between the ages of 31 and 44 and came from China, Turkey, Cyprus, Cambodia and Ni-Vanuatu.
In a separate statement, the central bank of Singapore did not name the financial institutions, but said it “is in contact with financial institutions (FIs) whose potentially tainted funds have been identified. Our supervisory involvement continues.”
(1 dollar = 1.3572 Singapore dollar)
Reported by Chen Lin from Singapore.Editing: Allison Williams
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