Singapore's Massive Money Laundering Probe: 10 Arrested, $1 Billion in Assets Seized

Singapore police have arrested 10 foreigners in a money laundering and forgery case involving approximately S$1 billion ($737 million) in cash, properties, luxury cars, and other assets. The arrests were made during simultaneous raids across the city-state. Prohibition of disposal orders were issued for 94 properties and 50 vehicles, with a total estimated value of over S$815 million. The foreigners, aged between 31 and 44, were of various nationalities including Chinese, Turkish, Cypriot, Cambodian, and Ni-Vanuatu. The Singapore central bank is in contact with financial institutions where the potentially tainted funds have been identified.