{
  "id": 4119239,
  "title": "Singapore to auction luxury goods, properties from US$2.4 billion money laundering case",
  "url": "https://urgent.news/2026/08/29/singapore-to-auction-luxury-goods-properties-from-us-2-4-billion",
  "topic": "world",
  "section": "World",
  "published": "2026-08-29T05:59:21.000Z",
  "source": {
    "name": "South China Morning Post",
    "slug": "south-china-morning-post",
    "url": "https://www.scmp.com/news/asia/southeast-asia/article/3365690/singapore-auction-luxury-goods-properties-us24-billion-money-laundering-case"
  },
  "original_language": "en",
  "account": "Singapore will auction luxury goods and properties worth more than US$2.4 billion seized as part of a money laundering case, according to audit firm Deloitte. The property sales will be conducted by SRI, Edmund Tie & Company and Knight Frank, while Hotlotz will handle the auction of luxury goods, including jewellery, watches and handbags. Some properties will be offered through an expression of interest process overseen by List International Realty.\n\nThe auction will take place in phases between September and mid-2027, with the specific assets included in each phase still being finalized. Deloitte, appointed by the Singapore Police Force, is managing and realizing the non-cash assets seized in the case. The eight offenders involved in the illicit gambling ring, all originally from China, have since been convicted and deported after serving their sentences.\n\nHotlotz will host 15 online auctions of the luxury items from September to May 2027. The first two auctions, scheduled for September 7 and 27, will feature handbags and accessories, as well as jewellery pieces from renowned brands such as Chanel, Louis Vuitton, Christian Dior, Graff, Bulgari, Van Cleef & Arpels, Hermes, Patek Philippe, Richard Mille, and Rolex. The presale estimate for the first two auctions is between US$2.9 million and US$3.9 million.\n\nOnline bidding for the first auction will open at 10am on September 7 and close at 4pm on September 20. Viewing for selected properties will be conducted at Le Freeport, a high-security storage facility in Changi, and appointments are strictly by reservation. Hotlotz founder and CEO Matt Elton emphasized the importance of transparency, ensuring bidders are aware of the items' origins and that starting prices are benchmarked against other auctions rather than original retail or secondary-market prices.",
  "summary": "Singapore will auction over 1,000 luxury items and 80 real estate properties seized in a US$2.4 billion money laundering case. The properties, many located in prime areas such as Orchard Road and Sentosa, will be sold through SRI, Edmund Tie & Company, and Knight Frank.\n\nThe luxury goods, including jewellery, watches, and handbags, will be auctioned by Hotlotz. According to Deloitte, the auctions will begin on September 7.\n\nThe seized assets are part of a S$3 billion money laundering case involving individuals from China's Fujian province, with arrests made in 2023. Some assets, including cars and residential and commercial properties, have already been liquidated.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}