Unicaus NEWS
In a significant cash laundering case, Singapore Police handed over tons of of luxurious items to Deloitte for liquidation.
Singapore Police seized 58 gold bars in a significant cash laundering case (Representational picture)
The handover, which came about on Aug 11 and 12, 2025, is a part of ongoing efforts to liquidate seized non-cash belongings and channel the proceeds into the federal government’s Consolidated Fund.
What was the cash laundering case about?
The case got here to gentle after islandwide raids on Aug 15, 2023, uncovered a bootleg playing ring working throughout Southeast Asia. Over the years, thousands and thousands in prison proceeds have been allegedly laundered into Singapore, in line with a report in Channel News Asia.
Ten international nationals — 9 males and one lady from China with prison backgrounds — have been arrested within the operation. They have been convicted in 2024 of offences together with cash laundering, forgery and resisting arrest, and sentenced to jail phrases starting from 13 to 17 months. After serving their sentences, all have been deported and barred from returning to Singapore.
Seventeen different suspects fled Singapore throughout the probe and stay exterior the nation’s jurisdiction.
What objects have been handed over to Deloitte?
In this newest stage, police transferred 466 luxurious items and 58 gold bars to Deloitte. These embrace:
- Around 50 designer purses from manufacturers similar to Hermes, Louis Vuitton, Dior and Chanel. Examples: a Hermes Birkin 25 Togo bag valued at about S$30,000, and a Hermes Kelly Alligator bag that may value between S$70,000 and S$120,000.
- At least 14 luxurious watches from high manufacturers together with Patek Philippe, Richard Mille, Van Cleef & Arpels, Rolex and Audemars Piguet.
- Gold bars weighing between 999g and 1kg every, valued at roughly S$139,000 apiece.
- Diamond and jade jewelry similar to earrings, bracelets, and necklaces, together with one gold show plate and a luxurious belt.
What will occur to the seized items?
Deloitte will retailer and finally promote the luxurious objects. Police mentioned: “To facilitate this, police are progressively handing over all remaining non-cash belongings which have but to be liquidated to Deloitte. Between Aug 11 and 12, police handed over 466 luxurious items objects and 58 items of gold bars to Deloitte.”
Deloitte will securely retailer the belongings earlier than proposing sale choices, which might embrace auctions or direct gross sales. “Deloitte will start the realisation of the belongings upon the Government’s approval of the proposals,” the police spokesman mentioned.
All proceeds will likely be paid into Singapore’s Consolidated Fund — the federal government’s central account for income and expenditure.
