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Value of assets seized as part of money laundering probe increases to $2.4 billion

The 10 suspects have been arrested and denied bail. Investigations are ongoing

The value of assets seized or frozen in Singapore's largest money laundering case has increased to more than $2.4 billion, according to the Singapore Police Force, which has been conducting further operations.

The haul is now more than double from the initial figure put at $1 billion when the case first burst into the open last month.

According to the police on Sept 20 the assets consist of properties, luxury cars, cash, fine wine and liquor, handbags and other assets.

Notably, there are now more than 110 properties and 62 vehicles worth $1.24 billion seized and issued with prohibition of disposal orders.

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The list also includes bank accounts with more than $1.1 billion, up from $110 million initially, and cash of more than $76 million, up from $23 million earlier.

There are also 68 gold bars, 294 luxury bags and 164 luxury watches, 546 pieces of jewellery, up from more than 270 previously, as well as 204 electronic devices such as computers and mobile phones.

The 10 suspects have been arrested and denied bail.

Investigations are ongoing.

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