SINGAPORE — The police on Tuesday (Aug 15) seized, froze or issued prohibition of disposal orders to about S$1 billion in cash and assets — including 94 properties, 50 vehicles and 270 pieces of jewellery — and arrested 10 foreign nationals believed to be laundering the proceeds of crimes committed overseas.

The police also seized more than 35 related bank accounts with a total estimated balance of more than S$110 million in one of the biggest anti-money-laundering operations here.

More than 400 officers were involved in simultaneous raids at several locations islandwide on Tuesday, including residences such as good class bungalows (GCB) and condominiums, the police said in a statement on Wednesday night.

The 10 arrested, aged between 31 and 44, were suspected of being involved in forgery or laundering the proceeds of crime from their overseas organised crime activities — including scams and online gambling. They were charged on Wednesday.

They are believed to be connected to each other.

Among those arrested are:

A 40-year-old male Cypriot national

He was nabbed at his residence at a GCB along Ewart Park off Holland RoadHe was also found in possession of other foreign passports believed to be issued by China and CambodiaAccording to the police, the man allegedly jumped out of the second-floor balcony of the bungalow when the police cameHe was later found by the police to be hiding in a drainThe police seized cash of more than S$2.1 million and other foreign currencies from the man, and issued prohibition of disposal orders for 13 properties and five vehicles with an estimated value of more than S$118 million. 

A 42-year-old male Turkish national

He was arrested at his residence at a GCB along Bishopsgate in TanglinThe police seized close to S$720,000 in cash and other foreign currencies, one electronic device, 36 luxury watches and bagsThe police also issued prohibition of disposal orders for four properties and three vehicles with an estimated value of more than S$29 million, as well as bottles of liquor and wineThe police also froze two related bank accounts with a total balance of more than S$1.18 million and other foreign currencies.

A 44-year-old male Chinese national and a 43-year-old female Chinese national 

They were arrested at their residence, a bungalow along Pearl Island at Sentosa CoveThe man was found in possession of a passport believed to be issued by St Kitts and Nevis and the woman was found with other foreign passports believed to be issued by Dominica and TurkeyThe police seized cash of more than S$7.6 million and other foreign currencies, and issued prohibition of disposal orders for nine properties and five vehicles with an estimated value of more than S$106 millionThe police also froze a related bank account with a total balance of more than S$22 million and other foreign currencies.

Those arrested were from Cyprus, Turkey, China, Cambodia and Vanuatu, and none were Singapore citizens or permanent residents.

Another 12 people are assisting with investigations and eight others are currently wanted by the police.

The Monetary Authority of Singapore said in a statement that it had worked closely with the police in the lead-up to the arrests.

The police had been alerted to suspicious activities by information from suspicious transaction reports filed by financial institutions in Singapore.

These institutions had picked up several red flags, including suspicious fund flows and dubious documentation of source of wealth or funds, which prompted them to file these reports.

Those convicted of money laundering under Section 54 of the Corruption, Drug Trafficking and Other Serious Crimes (CDSA) Act of 1992 may be jailed for up to 10 years, fined up to S$500,000, or both.

Police investigations are ongoing.

“More assets may be seized, bank accounts frozen, or prohibition of disposal orders issued, in the course of investigation,” said the police.

Director of the Commercial Affairs Department David Chew said that the police have zero tolerance for the use of Singapore as a safe haven for criminals or their families, nor for the abuse of its banking facilities.

“Our message to these criminals is simple — if we catch you, we will arrest you. If we find your ill-gotten gains, we will seize them. We will deal with you to the fullest extent of our laws,” he added.

WHO THE 10 FOREIGNERS ARRESTED ARE

Su Haijin, a 40-year-old Cyprus national, arrested in a GCB along Ewart Park in the Holland area. Charged with one count of resisting lawful apprehension.Vang Shuiming, a 42-year-old Turkey national, arrested in a GCB along Bishopsgate in Tanglin. Charged with one count of using a forged document.Zhang Ruijin, a 44-year-old China national and Lin Baoying, a 43-year-old China national, arrested in a bungalow along Pearl Island at Sentosa Cove. Both charged with one count each of forgery for the purpose of cheating.Su Baolin, a 41-year-old Cambodia national, arrested in a GCB along Nassim Road. Charged with one count of using a forged document.Su Jianfeng, a 35-year-old Ni-Vanuatu national, arrested in a GCB along Third Avenue in Bukit Timah. Charged with one count of money laundering.Chen Qingyuan, a 33-year-old Cambodia national, arrested in a condominium along Leonie Hill Road in the River Valley area. Charged with one count of money laundering.Wang Dehai, a 34-year-old Cyprus national, arrested in a condominium along Paterson Hill in the Orchard area. Charged with one count of money laundering.Wang Baosen, a 31-year-old China national, arrested in a condominium along Tomlinson Road in Tanglin. Charged with one count of money laundering.Su Wenqiang, a 31-year-old Cambodia national, arrested in a GCB along Lewis Road in Bukit Timah. Charged with one count of money laundering.

Of the 10 people arrested, those who were not of Chinese nationality were found to be in possession of foreign passports believed to be issued by China and other countries. CNA

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