Singapore auctions billions in seized luxury assets after major laundering bust

Singapore is auctioning off hundreds of seized luxury items—including Hermès, Cartier and Louis Vuitton pieces—along with cars, watches, Bearbricks, cash and real estate, from a multi‑billion‑dollar money‑laundering investigation that involved hundreds of officers. The assets, valued at over S$3 billion (about $2.4 billion), are being sold across 15 online and in‑person auctions to avoid flooding the market, with proceeds going to Singapore’s treasury. Deloitte is liquidating real estate while Hotlotz runs the auctions from Singapore’s high‑security Freeport; bidders worldwide can participate. Ten Chinese nationals were convicted; 17 suspects remain overseas, with many assets surrendered in exchange for Interpol notices being withdrawn.