– Police seize large sum of money and assets from 2 individuals connected to money laundering investigation
– Authorities confiscate significant amount of cash and assets from suspects involved in money laundering scheme.
Accident – Death – Obituary News :
SINGAPORE – In a major development in the ongoing $3 billion money laundering probe, Singaporean authorities have seized more than $530 million in cash and assets, including 28 properties, from two foreign nationals who have fled the country.
Investigation Details
The suspects, aged 37 and 39, left Singapore before the police initiated investigations against them and are currently not in the country. While the authorities did not disclose their identities, it is believed that the individuals in question are businessmen Su Shuiming and Su Shuijun.
Earlier in May, a joint report by The Straits Times and the Organised Crime and Corruption Reporting Project (OCCRP) shed light on the business and property holdings of the two individuals, who abruptly left Singapore in 2023. Subsequently, they were placed on China’s wanted list following an anti-money laundering operation that led to the arrest of 10 foreigners.
Asset Seizure
Company records in Britain indicate that Su Shuiming is 39 years old, while Su Shuijun is 37. In late 2023, Singaporean authorities took control of over $530 million worth of assets owned by the two men, forming part of the larger pool of assets valued at over $3 billion seized in the case.
Assets Seized
For the 37-year-old suspect, the police issued prohibition of disposal orders for nine properties, two vehicles, and four country club memberships. Additionally, bank accounts with a total balance exceeding $157 million were frozen, along with the seizure of cash, jewellery, luxury bags, and collectibles.
Similarly, prohibition of disposal orders were issued for 19 properties, three vehicles, and three country club memberships linked to the 39-year-old suspect. Bank accounts with a total balance exceeding $145 million were frozen, with the confiscation of cash, liquor, jewellery, luxury bags, and watches.
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– police seize cash assets from men ST identified linked money laundering case
– police seize cash assets men ST identified linked money laundering case.
