Key facts
- Singapore recovered US$862,000 from its first auction of assets seized in a money laundering probe.
- The auction was part of an investigation into a US$2.2 billion money laundering scheme.
- Luxury items including jewelry, watches, and a sports car were among the assets sold.
Singapore has recovered US$862,000 from its first auction of assets seized as part of a major money laundering investigation. The auction is linked to a probe into a US$2.2 billion money laundering scheme that involved assets being transferred through Singapore.
Luxury items, including jewelry, watches, and a sports car, were among the assets sold. The authorities are continuing to investigate the case and have frozen or seized assets worth over US$1.2 billion.