Singapore police reported the arrest of 10 people on suspicion of laundering more than 950 million SGD (about $700 million), including via digital assets.
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All of the arrested are nationals of China, Cyprus, Cambodia, Turkey and Vanuatu. Eight more are being sought.
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“As a result of a large-scale investigation and subsequent intelligence, including analysis of suspicious transaction reports, the police identified a group of individuals suspected of involvement in laundering proceeds from organized crime abroad, including fraud and online gambling,” according to the police statement.
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During searches of the alleged criminals, authorities seized more than 94 properties and 50 vehicles valued at over 815 million SGD (about $600 million). Authorities also arrested more than 35 bank accounts totaling SGD 110 million (~$81 million).
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In addition, foreign currency cash totaling 23 million SGD (~$17 million) was confiscated, along with more than 250 luxury bags and watches, 120 electronic devices, 270 pieces of jewelry and two gold bars.
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In addition, investigators found 11 documents \”containing information about digital assets\”. The investigation continues.
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The detainees have been charged with money laundering, fraud, forgery and resisting arrest.
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In Belarus, police discovered evidence of exchanges of funds stolen from citizens into cryptocurrencies totaling more than 2 million Belarusian rubles (~$800,000). According to the investigation, two men over two years received and laundered funds obtained from foreign criminals.