Singapore authorities have seized assets worth more than $3 billion in connection with the country’s largest-ever money laundering case, which led to the arrest of 10 foreign nationals. The police announced on January 19 that they had issued prohibition of disposal orders on an additional 55 properties and 15 vehicles, bringing the total confiscated assets to 207 properties, 77 vehicles, over $1.45 billion in bank accounts, and more than $76 million in cash across various currencies.
In addition to these, authorities have seized thousands of luxury items, including 189 luxury bags, 34 pieces of jewelry, and five luxury watches. The investigation also uncovered large quantities of liquor and wine, cryptocurrency worth more than $38 million, 68 gold bars, 483 luxury bags, 169 branded watches, and 580 pieces of jewelry.
In connection with the case, arrest warrants and Interpol Red Notices have been issued for two additional suspects: Su Yongcan, 33, and Wang Huoqiang, 29, both Cambodian nationals, who are wanted for their involvement in the money laundering scheme. The pair reportedly fled Singapore before the arrests began on August 15, 2023. Prosecutors revealed that Su Yongcan is the brother-in-law of Wang Dehai, one of the 10 arrested suspects.
Reports suggest that Su Yongcan and Wang Huoqiang are also wanted by Chinese authorities for their involvement in illegal gambling activities dating back to 2018. Authorities discovered that Su Yongcan had more than $16 million in cash and other currencies, which were seized, alongside a total of $145 million frozen in his bank accounts. Additionally, prohibition orders were placed on seven properties and 10 vehicles linked to Su.
For Wang Huoqiang, authorities seized $188,000 in cash and other foreign currencies, froze his bank accounts holding over $5 million, and issued a prohibition of disposal order for one vehicle.
This large-scale operation underscores Singapore’s ongoing commitment to tackling financial crimes and money laundering.
