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$1b in cash and assets seized and frozen; 30 foreigners probed for money laundering and forgery

Mockngbrd

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Mockngbrd

Mockngbrd

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SINGAPORE - In one of the biggest anti-money laundering operations here, the Singapore Police Force (SPF) have rounded up a group of foreigners for allegedly engaging in money laundering activities.

 

The group lived in good class bungalows (GCBs) and high-end condominiums, and owned luxury cars, amassing about $1 billion worth of assets in Singapore.

 

The police said it received information of possible illicit activities, including the use of suspected forged documents that were used to substantiate the source of funds in Singapore bank accounts.

 

On Tuesday, the police conducted a massive islandwide blitz, hitting several GCBs and high-end condos across Singapore simultaneously to nab several of the suspects.

 

Ten people, including a woman, have been arrested and are expected to be charged on Wednesday night.

 

They are aged 31 to 44, and are suspected to be involved in offences of forgery, money laundering, and resisting arrest.

 

Another 12 are assisting in investigations, while eight more people are currently on the run and have been placed on a wanted list.

 

In a release on Wednesday, the police said the blitz involved more than 400 officers including those from the Criminal Investigation Department, Commercial Affairs Department, Special Operations Command or riot police, and Police Intelligence Department.

 

 

More than 250 luxury bags and watches were seized by the police during the operation.  the group of foreign nationals allegedly involved in laundering the proceeds of crime from their overseas organised crime activities, including scams and online gambling.

 

Prohibition of disposal orders were issued against 94 properties and 50 vehicles, with a total estimated value of more than $815 million, and multiple ornaments and bottles of liquor and wine.

 

The orders mean the suspects are not allowed to sell these properties and vehicles.

 

 

Prohibition of disposal orders were issued against 50 vehicles, as well as 94 properties. 

The police also seized more than 35 related bank accounts with a total estimated balance of more than $110 million for investigations and to prevent transfers of the suspected criminal proceeds.

 

 

Multiple bottles of liquor and wine were also placed under prohibition of disposal orders.

 

Also seized was more than $23 million in cash, more than 250 luxury bags and watches, more than 120 electronic devices such as computers and mobile phones, more than 270 pieces of jewellery, two gold bars, and 11 documents with information on virtual assets.

 

 

 

 

 

Crime pays! (until it doesn't) 

Ccp tentacle very long. Cannot zao. 

 

 

Edited by Mockngbrd
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Mockngbrd

Mockngbrd

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https://m.facebook.com/story.php?story_fbid=pfbid02cbAWpTBwfmNfr2rPJ9iLUc1DfJdnPFwDDqiPP7RS9n6mahDVBRG4krDzaZUsRYpVl&id=100064761068356&mibextid=Nif5oz

 

𝗧𝗘𝗡 𝗙𝗢𝗥𝗘𝗜𝗚𝗡 𝗡𝗔𝗧𝗜𝗢𝗡𝗔𝗟𝗦 𝗧𝗢 𝗕𝗘 𝗖𝗛𝗔𝗥𝗚𝗘𝗗 𝗙𝗢𝗥 𝗢𝗙𝗙𝗘𝗡𝗖𝗘𝗦 𝗜𝗡𝗖𝗟𝗨𝗗𝗜𝗡𝗚 𝗙𝗢𝗥𝗚𝗘𝗥𝗬 𝗔𝗡𝗗 𝗠𝗢𝗡𝗘𝗬 𝗟𝗔𝗨𝗡𝗗𝗘𝗥𝗜𝗡𝗚 𝗪𝗜𝗧𝗛 𝗔𝗡 𝗘𝗦𝗧𝗜𝗠𝗔𝗧𝗘𝗗 𝗩𝗔𝗟𝗨𝗘 𝗢𝗙 𝗔𝗕𝗢𝗨𝗧 𝗢𝗡𝗘 𝗕𝗜𝗟𝗟𝗜𝗢𝗡 𝗜𝗡 𝗖𝗔𝗦𝗛 𝗔𝗡𝗗 𝗩𝗔𝗥𝗜𝗢𝗨𝗦 𝗔𝗦𝗦𝗘𝗧𝗦 𝗦𝗘𝗜𝗭𝗘𝗗, 𝗙𝗥𝗢𝗭𝗘𝗡 𝗢𝗥 𝗜𝗦𝗦𝗨𝗘𝗗 𝗪𝗜𝗧𝗛 𝗣𝗥𝗢𝗛𝗜𝗕𝗜𝗧𝗜𝗢𝗡 𝗢𝗙 𝗗𝗜𝗦𝗣𝗢𝗦𝗔𝗟 𝗢𝗥𝗗𝗘𝗥𝗦

The Police have arrested ten persons, aged between 31 and 44, for their suspected involvement in offences of forgery and/or, money laundering, and resistance to lawful apprehension. Twelve other persons are assisting with investigations and eight other persons are currently wanted by the Police. These persons are believed to have connections amongst themselves. All the persons involved are neither Singapore Citizens nor Permanent Residents.

The Police received information of possible illicit activities including the use of suspected forged documents that were used to substantiate the source of funds in Singapore bank accounts. Through extensive investigations and follow-up from intelligence - including the analysis of Suspicious Transaction Reports (STRs) - the Police identified a group of foreign nationals suspected to be involved in laundering the proceeds of crime from their overseas organised crime activities including scams and online gambling.

On 15 August 2023, more than 400 officers from the Commercial Affairs Department, the Criminal Investigation Department, Special Operations Command and the Police Intelligence Department conducted simultaneous raids at multiple locations island-wide, including residences such as Good Class Bungalows (GCB) and condominiums, leading to the arrest of the ten persons.

Prohibition of disposal orders were issued against 94 properties and 50 vehicles, with a total estimated value of more than S$815 million, as well as multiple ornaments and bottles of liquor and wine. The Police also seized more than 35 related bank accounts with a total estimated balance of more than S$110 million for investigations and to prevent dissipation of suspected criminal proceeds. Cash, including foreign currencies, amounting to more than S$23 million, more than 250 luxury bags and watches, more than 120 electronic devices such as computers and mobile phones, more than 270 pieces of jewelleries, two gold bars, and 11 documents with information on virtual assets.

All ten persons will be charged in court on 16 August 2023. The case facts are as follows:

a) A 40-year-old male Cypriot national was arrested at his residence at a GCB along Ewart Park. He was also found in possession of other foreign passports believed to be issued by the People’s Republic of China (PRC) and Cambodia. During the arrest, when the Police identified themselves to the man outside his bedroom and ordered him to open the door, the man allegedly jumped out of the second-floor balcony of the GCB and was found by the Police to be hiding in a drain. He was conveyed conscious to the hospital as he sustained injuries arising from the jump. The Police seized cash of more than S$2.1 million and other foreign currencies, and issued prohibition of disposal orders for 13 properties and five vehicles with an estimated value of more than S$118 million, as well as multiple ornaments and bottles of liquor and wine. The Police also froze four related bank accounts with a total balance of more than S$6.7 million. The man will be charged with one count of resistance to lawful apprehension under Section 225B of the Penal Code. One other person is assisting with investigations.

b) A 42-year-old male Turkish national was arrested at his residence at a GCB along Bishopsgate. He was also found in possession of a foreign passport believed to be issued by PRC and Vanuatu. The Police seized close to S$720,000 in cash and other foreign currencies, one electronic device, 36 luxury watches and bags, and issued prohibition of disposal orders for four properties and three vehicles with an estimated value of more than S$29 million, as well as multiple bottles of liquor and wine. The Police also froze two related bank accounts with a total balance of more than S$1.18 million and other foreign currencies. The man will be charged with one count of using a forged document under Section 471 punishable under Section 465 of the Penal Code. One other person is assisting with investigations.

c) A 44-year-old male PRC national and a 43-year-old female PRC national were arrested at their residence at a bungalow along Pearl Island at Sentosa Cove. The man was also found in possession of a foreign passport believed to be issued by St Kitts and Nevis and the woman was found with other foreign passports believed to be issued by the Dominican Republic and Turkey. The Police seized cash of more than S$7.6 million and other foreign currencies, and issued prohibition of disposal orders for nine properties and five vehicles with an estimated value of more than S$106 million. The Police also froze a related bank account with a total balance of more than S$22 million and other foreign currencies. The man and woman will each be charged with one count of forgery for the purpose of cheating under Section 468 of the Penal Code.

d) A 41-year-old male Cambodian national was arrested at his residence at a GCB along Nassim Road. He was also found in possession of a foreign passport believed to be issued by PRC. The Police seized cash of more than S$777,000 and other foreign currencies, 11 electronic devices, 33 luxury bags and watches, 75 pieces of jewelleries, and issued prohibition of disposal orders for seven properties and six vehicles with an estimated value of more than S$76 million. The Police also froze three related bank accounts with a total balance of more than S$2.4 million. The man will be charged with one count of using a forged document under Section 471 punishable under Section 465 of the Penal Code. One other person is assisting with investigations.

e) A 35-year-old male Ni-Vanuatu national was arrested at his residence at a GCB along Third Avenue. He was also found in possession of a foreign passport believed to be issued by PRC. The Police seized more than S$1.4 million in cash and other foreign currencies, 95 pieces of jewelleries, 69 luxury bags and watches, 22 electronic devices, two gold bars, and issued prohibition of disposal orders for 13 properties and four vehicles with an estimated value of more than S$120 million. The Police also froze six related bank accounts with a total balance of more than S$20 million and other foreign currencies. The man will be charged with one count of money laundering under Section 54(1)(c) punishable under Section 54(5)(a) of the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act (CDSA). One other person is assisting with investigations.

f) A 33-year-old male Cambodian national was arrested at his residence at a condominium along Leonie Hill Road. He was also found in possession of other foreign passports believed to be issued by PRC and the Dominican Republic. The Police seized cash of close to S$600,000 and other foreign currencies, 23 pieces of jewelleries, six luxury watches, 11 documents with information on virtual assets, and 12 electronic devices, and issued prohibition of disposal orders for one property and three vehicles with an estimated value of more than S$12.6 million. The Police also froze two related bank accounts with a total balance of more than S$28,000 and other foreign currencies. The man will be charged with one count of money laundering under Section 54(1)(c) punishable under Section 54(5)(a) of the CDSA. One other person is assisting with investigations.

g) A 34-year-old male Cypriot national was arrested at his residence at a condominium along Paterson Hill. He was also found in possession of other foreign passports believed to be issued by PRC and Cambodia. The Police seized cash of more than S$2.2 million, 11 electronic devices, 35 luxury watches and bags, 51 pieces of jewelleries, and issued prohibition of disposal orders for one property and two vehicles with an estimated value of more than S$23 million. The Police also froze five related bank accounts with a total balance of more than S$1.7 million and other foreign currencies. The man will be charged with one count of money laundering under Section 54(1)(c) punishable under Section 54(5)(a) of the CDSA. One other person is assisting with investigations.

h) A 31-year-old male PRC national was arrested at his residence at a condominium along Tomlinson Road. He was also found in possession of a foreign passport believed to be issued by Vanuatu. The Police seized cash of close to S$112,000 and other foreign currencies and three electronic devices, and issued probation of disposal order for one vehicle with an estimated value of more than $300,000. The man will be charged with money laundering under Section 54(1)(c) punishable under Section 54(5)(a) of the CDSA. One other person is assisting with investigations.

i) A 31-year-old male Cambodian national was arrested at his residence at a GCB along Lewis Road. He was also found in possession of a foreign passport believed to be issued by PRC. The Police seized cash of more than S$600,000 and other foreign currencies, 11 electronic devices, 16 luxury bags and watches, 11 pieces of jewelleries, and issued prohibition of disposal orders for two vehicles with an estimated value of more than S$580,000, as well as multiple bottles of liquor and wine. The Police also froze eight related bank accounts with a total balance of more than S$10 million and other foreign currencies. The man will be charged with one count of money laundering under Section 54(1)(c) punishable under Section 54(5)(a) of the CDSA. One other person is assisting with investigations.

j) Four other persons are assisting with Police investigations. The Police seized cash of more than S$6.7 million and other foreign currencies, 60 luxury bags and watches, more than 20 pieces of jewelleries, more than 50 electronic devices and issued prohibition of disposal orders for 29 properties and 15 vehicles with an estimated value of more than S$227 million. The Police also froze one bank account with a total balance of more than S$2.8 million.

k) Eight other persons are currently wanted by the Police.

Police investigations are ongoing. More assets may be seized, bank accounts frozen, or prohibition of disposal orders issued, in the course of investigation.

If convicted, the offence of money laundering for individuals under Section 54 of the CDSA 1992 is punishable with imprisonment for up to 10 years, or a fine of up to $500,000, or both. The offence of forgery for the purpose of cheating under Section 468 of the Penal Code 1871 is punishable with imprisonment of up to 10 years and the offender shall also be liable to a fine.

The offence of using a forged document under Section 471 punishable under Section 465 of the Penal Code is punishable with imprisonment of up to four years, or fine, or both. The offence of resistance to lawful apprehension under Section 225B of the Penal Code is punishable with imprisonment of up to one year, or fine, or both.

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Mkl22

Mkl22

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Do more this cheong kong and then hopefully can maintain 9% GST for longer. 
$1B into piggy bank! Huat Ah! 

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Kopites

Kopites

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On 8/16/2023 at 9:27 PM, Mkl22 said:

Do more this cheong kong and then hopefully can maintain 9% GST for longer. 
$1B into piggy bank! Huat Ah! 

Coe will drop?

PM just said our reserve balance isn't long lasting...😁

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Volvobrick

Volvobrick

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On 8/16/2023 at 9:33 PM, Kopites said:

Coe will drop?

PM just said our reserve balance isn't long lasting...😁

I don't believe him now. Who says reserves can't be topped up? 

COE drops, GCB/luxury condo drop. Get ready money to buy hor! 

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mersaylee

mersaylee

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On 8/16/2023 at 9:02 PM, BanCoe said:

Maybe  China FM WangYi came last week bang table with Vivvy here ……

So the removal of tie was a threat to severe tie if demand not met? 😅

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Kopites

Kopites

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On 8/16/2023 at 9:37 PM, ER-3682 said:

How these People can buy GCB.?They are not Citizen,maybe Rent.?

That kind of sum I am sure won't be difficult to seek a Singaporean ic for that GCB. 

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Kopites

Kopites

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On 8/16/2023 at 9:58 PM, mersaylee said:

So the removal of tie was a threat to severe tie if demand not met? 😅

The confiscated sum stay or return to China?

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Enye

Enye

Hypersonic

wah all these ah tiongs add up still lose to our own home grown nickel trading scammer guy in terms of value leh…

we no need ft lah…

😬😅

 

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