IN REGARD TO THE CASE
News of the seizure or freezing of more than S$ 1 billion in property and the arrest of 10 defendants in a massive money laundering assault broke on August 15.
Pleasure properties, cars, silver bars, jewelry and watches, bitcoin, and money or bank accounts are among these resources, which have since increased in value to S$ 1.8 billion. Counterfeit and money laundering are two of the offenses for which the suspects have been charged.
Many of the suspects were detained at luxury condominiums or Good Class Bungalows( GCBs ) in Sentosa Cove, which they either owned or were renting.
Police claimed that the suspects did not own the GCBs, and that in addition to those homes, ban of disposal orders were issued for 105 properties that were thought to be fair S$ 831 million.
These components are owned by the people who are being investigated, their families, or their businesses. At Sentosa Cove, there are seven houses, 79 condo units( of which 19 are still under construction ), and 19 commercial and industrial areas.
On Wednesday, it was revealed that Vang Shuiming, one of the suspects, had paid for the acquisition of 10 models at Park Nova and the opulent Canninghill Piers property.
Vang and the other nine offenders are either from Ni-Vanuatu, Cyprus, Türkiye, China, or Cambodia. Zhang Ruijin, a Chinese citizen, also has visas from St. Kitts and Nevis, and Lin Baoying, another Chinese assume, is likewise passport-holder from Dominica and Türkiye.