10 persons charged with money laundering, forgery, and resisting

Eight other individuals are wanted by the Singapore Police Force.

Ten individuals, aged between 31 and 44, have been arrested by the Singapore Police Force for suspected forgery, money laundering, and resistance to apprehension. 

Another twelve individuals are assisting with investigations, and eight are being sought by the Police. 

These individuals are believed to have connections among themselves. None of those involved are Singapore Citizens or Permanent Residents.

The Police received information regarding potential illicit activities, including the use of suspected forged documents to validate the origin of funds in Singaporean bank accounts. 

Subsequent to extensive investigations and intelligence analysis, the Police pinpointed a group of foreign nationals thought to be engaged in laundering proceeds from organised criminal activities overseas, including scams and online gambling.

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On 15 August, over 400 officers from various Police departments carried out simultaneous raids at multiple locations, leading to the arrest of the ten individuals. The locations included luxury residences and condominiums.

Orders prohibiting disposal were issued for 94 properties and 50 vehicles, collectively valued at over $815m. 

Additionally, various valuables such as ornaments, liquor, and wine, were seized, along with more than 35 bank accounts holding an estimated total balance of over $110m. 

Over $23m in cash (including foreign currencies), 250 luxury bags and watches, 120 electronic devices, over 270 pieces of jewellery, two gold bars, and 11 documents pertaining to virtual assets were also seized.

Eight other individuals are currently wanted by the Police. Investigations are ongoing, and more assets may be confiscated or accounts frozen during the course of the investigation.