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Singapore to auction US$2.4B in assets from major money laundering case

By PulseAugur Editorial · [1 sources] ·

Singapore is set to auction a vast collection of luxury goods and properties valued at approximately US$2.4 billion, stemming from a major money laundering case. The assets, seized in August 2023 from Chinese suspects involved in an illicit gambling ring, will be sold in phases starting September 7. Auction houses SRI, Edmund Tie & Company, and Knight Frank will handle real estate, while Hotlotz will manage the luxury items. Deloitte, appointed by the Singapore Police Force, is overseeing the liquidation of these forfeited assets, with the process expected to continue until mid-2027. AI

RANK_REASON Significant regulatory action involving a large sum of seized assets from a major criminal case. [lever_c_demoted from significant: ic=1 ai=0.0]

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AI-generated summary · Google Gemini · from 1 sources. How we write summaries →

Singapore to auction US$2.4B in assets from major money laundering case

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Significant regulatory action involving a large sum of seized assets from a major criminal case. [lever_c_demoted from significant: ic=1 ai=0.0]
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COVERAGE [1]

  1. SCMP — Tech TIER_1 English(EN) · CNA ·

    Singapore to auction luxury goods, properties from US$2.4 billion money laundering case

    More than 1,000 luxury items and 80 real estate properties forfeited in Singapore’s S$3 billion (US$2.4 billion) money laundering case would go under the hammer from September 7, audit firm Deloitte said on Saturday. The properties will be auctioned by SRI, Edmund Tie & Company a…

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