Assets from Singapore's S$3B money laundering case to go under the hammer
Quick Look
More than 1,000 luxury items and 80 real estate properties forfeited in Singapore's S$3 billion money laundering case will be auctioned starting September 7.
AI-generated summary
Why It Matters
Island-wide raids in August 2023 uncovered millions of dollars earned from an illicit gambling ring run by Chinese suspects.
Island-wide raids in August 2023 uncovered millions of dollars earned from an illicit gambling ring run by Chinese suspects
More than 1,000 luxury items and 80 real estate properties forfeited in Singapore’s S$3 billion (US$2.4 billion) money laundering case would go under the hammer from September 7, audit firm Deloitte said on Saturday.
The properties will be auctioned by SRI, Edmund Tie & Company and Knight Frank, while auction house Hotlotz will handle the luxury goods, comprising jewellery, watches and handbags.
Some selected properties will also be offered for sale through an expression of interest process run by List International Realty, outside the auction process.
The assets will be sold in phases between September and mid-2027. Deloitte said the composition and number of items in each phase were still being finalised and could change as authentication and preparatory work continues.
Deloitte was appointed by the Singapore Police Force in July 2025 to manage and realise the non-cash assets forfeited in the case.
What to Watch
AI outlook — possibilities, not facts
Auctions of forfeited assets will begin on September 7.
Very likely · Within days
Open Questions
- What will be the exact composition of items in each auction phase?
- How much total recovery will the auctions yield?
