On 15th August, the police of Singapore arrested ten immigrants for money laundering and found assets worth about S$1 billion($735 million) including cryptocurrencies.
A day after, the Singapore Police Force published a statement that ten people, aged between 31 and 44 years and most of whom own Chinese passports, have been arrested. These people are suspects of involvement in offenses of forgery, money laundering, and resistance to lawful apprehension.
The Singaporean police seized 94 properties and 50 vehicles approximately valued over S$815 million, as well as multiple ornaments and bottles of liquor and wine. With this, they also found 35 bank accounts with a total estimated balance of more than S$110 million.
Mainly, there is the hold of 11 documents that mention the information of virtual assets but the value of crypto assets is not provided by the authorities.
As per Steamtent, there are things like “Cash, including foreign currencies, amounting to more than S$23 million, more than 250 luxury bags and watches, more than 120 electronic devices such as computers and mobile phones, more than 270 pieces of jewelleries, two gold bars” founded by police.
Also Read: FBI’s 3-Month Operation Seizes $1.7M in Cryptocurrencies
