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What we know so far about Singapore’s US$1.3 billion money laundering case

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ExplainerSingapore’s US$1.3 billion money laundering case: what we know so far

Prosecutors say it’s one of the ‘most serious, if not the worst’ money-laundering cases in Singapore’s history – and more details could yet emergeRead on for the latest on the suspects, the effect of the scandal on the city state’s reputation, and what the government has to say about it allSingaporeKimberly LimPublished: 2:00pm, 16 Sep, 2023Why you can trust SCMP

Singapore’s US$1.3 billion money laundering scandal is the talk of the Asian financial world, and it could further balloon to involve more suspects and assets, going by the latest comments from prosecutors and officials.

As was the case with Malaysia’s 1MDB financial scandal, what has caught the public’s attention has been the types of luxury items and properties seized.Included in the laundry list of seized assets are Singapore’s ultra-exclusive “ good-class bungalows”, Bentley cars, Patek Philippe watches and even “Bearbricks” – collectible figurines of between 7cm and 70cm in length that can cost thousands of dollars.

So far, 10 foreign nationals aged between 31 and 44 have been arrested, charged and remain in custody amid ongoing investigations.

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