$3b money laundering case: Luxury properties, handbags and jewellery up for auction
More than 80 properties and 1,000 luxury items are expected to be auctioned off.
Singapore's landmark $3 billion money laundering case has led to the seizure of over 80 properties and thousands of luxury items, including handbags, jewellery, watches and alcohol, according to Deloitte. These assets, amassed after an initial raid on Aug 15, 2023, are set to be sold through a series of timed, online-only auctions starting Sept 7.
The first two auctions will feature over 300 luxury handbags and accessories, as well as more than 250 pieces of fine jewellery from top brands like Chanel, Louis Vuitton, Graff, Bulgari and Van Cleef & Arpels. Subsequent auctions, between September 2026 and May 2027, will include additional handbags and luxury timepieces. Hotlotz, the auction house overseeing the sales, has stated that the items will be professionally catalogued and promoted to achieve fair market value.
The real estate linked to the money laundering network will be handled by realtors SRI, Edmund Tie & Company (SEA) and Knight Frank, while certain select properties may be offered for sale via an expression of interest process. All proceeds from the asset sales will be paid into Singapore's Consolidated Fund.
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