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Singapore Auctions Assets from Major Money Laundering Case
Singaporean authorities have completed the liquidation of luxury assets valued at over 2.4 billion US dollars as part of measures taken against the country's largest money laundering case. More than 80 properties and 1,000 luxury items, including jewelry, watches, and handbags, will be auctioned starting in September 2026 and continuing until mid-2027. These assets were seized from criminals originating from Fujian Province in southern China. This operation follows raids in 2023 that apprehended the criminals, resulting in the confiscation of their assets. The move is part of the government's efforts to combat money laundering and dismantle financial trafficking networks.
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