We refer to media reports about two men, aged 37 and 39, who have been listed in overseas notices for their alleged involvement in an online gambling syndicate. The Police confirm that these two men are part of the anti-money laundering probe launched in August 2023 concerning possible offences under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act for suspicion of laundering the proceeds of their overseas criminal activities. Both men had left Singapore prior to the Police’s investigations against them, and are currently not in Singapore.
The Police had earlier in late 2023 already seized or issued prohibition of disposal orders on about S$530 million worth of assets belonging to the two men, which forms part of the more than S$3 billion worth of assets seized or issued with prohibition of disposal orders in the case.
In relation to the 37-year-old man, the Police had issued prohibition of disposal orders in respect of nine properties, two vehicles, and four country club memberships. The Police had also frozen bank accounts with a total balance of more than S$157 million, and seized about S$93,000 in cash, and more than 200 pieces of jewellery, luxury bags and collectibles.
In relation to the 39-year-old man, the Police had issued prohibition of disposal orders in respect of 19 properties, three vehicles, and three country club memberships. The Police had also frozen bank accounts with a total balance of more than S$145 million, and seized about S$300,000 in cash, bottles of liquor and more than 60 pieces of jewellery, luxury bags, and watches.
Other than these two men, investigations are ongoing against 15 other persons who are not in Singapore. They include Cambodian Nationals Su Yongcan and Wang Huoqiang, who have had warrants of arrest and Interpol Red Notices issued against them(1). We have been working with Interpol to issue Red Notices against some of the others.
Prohibition of disposal orders issued by the Police prevents the assets from being disposed of during the investigations. For real estate properties, the Police will cause a caveat to be lodged in the Land Titles Registry against them. Unless the caveat is lifted, the transfer of the properties’ ownership and their sale cannot be completed. Generally, assets issued with prohibition orders will be dealt with by the Courts when the case concludes.
Police investigations are ongoing.
SINGAPORE POLICE FORCE
22 May 2024 @ 3:00 PM