Fujian money launderers’ super-luxe condos with panoramic Singapore skyline views on auction block
Limited supply of prime district properties with large floor plates up for auction may interest buyers.
A four-bedroom apartment on the 61st floor of Wallich Residence, owned by Zhang Ruijin, convicted money launderer, will be auctioned starting this week. The 1,991 sq ft apartment features panoramic views of the Singapore skyline, including Sentosa Cove and the Greater Southern Waterfront. It comes with a guide price of $6.78 million.
The 26 properties linked to the 2023 money laundering case will be auctioned by real estate companies Knight Frank, SRI, and ETC on September 17 and 23. Zhang, who served 15 months in jail, along with his lover Lin Baoying, were convicted of money laundering and forgery charges in Singapore. The 10 arrested foreigners, all from Fujian, China, bought luxury units in prime district projects, including Canninghill Piers, South Beach Residences, and Gramercy Park.
Ultra-high-net-worth individuals are reportedly interested in the auctioned properties due to their privacy and location.
Written by urgent.news from Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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