Singapore Auctions 47 Luxury Cars Seized in S$3 Billion Money Laundering Case
Singapore has put 47 luxury vehicles linked to the country’s S$3 billion money laundering case up for closed-bid auction.
The fleet includes 11 Rolls-Royces, among them a 2023 Phantom Extended Wheelbase with an estimated second-hand asking price of about S$2 million. A Ferrari SF90 was also among the vehicles offered. The auction was open to used-car dealers and registered companies through Sgcarmart Quotz.
The vehicles were among assets seized or restrained during Singapore’s largest money laundering investigation. The wider asset pool included property, bank balances, cash, jewellery and other luxury goods connected to the criminal network.
The sale marks another stage in the authorities’ recovery and disposal of forfeited assets after the case resulted in convictions and prison sentences for 10 foreign nationals.
Sources: The Straits Times report republished by Stomp; Singapore National Asset Recovery Strategy.
