Singapore to sell luxury homes seized in record money laundering case
Numerous real estate assets are set to be put up for sale, likely via auction
Singapore plans to auction a number of luxury properties seized in the country's largest money laundering case, according to sources familiar with the matter. The properties, which include prime locations such as Orchard Road and Sentosa, were seized as part of a S$3 billion case targeting criminals from China's Fujian province.
Consulting firm Deloitte has been in talks with multiple property brokers to determine a sale strategy, but details are not yet finalized. The assets had previously been liquidated, with some properties sold at reduced prices due to connections with the criminal group. The upcoming auction would be the next step in the liquidation process.
Written by urgent.news from The Business Times - Singapore's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
