Singapore is preparing to sell luxury homes seized in the country’s largest money-laundering case, as authorities move to dispose of property recovered during the investigation.
The properties were among more than S$2.8 billion in assets seized in a police operation launched in 2023. The haul included homes, vehicles, cash, jewellery and other valuables linked to a network accused of laundering proceeds from overseas criminal activities.
The planned sales mark the latest phase in efforts to liquidate the assets following legal proceedings against those involved. Authorities have already begun disposing of other seized items, including luxury vehicles and valuables.
Bloomberg reported that more than 200 seized properties could be offered for sale, with property agencies being approached to handle the transactions.
The sales could bring a sizeable amount of luxury real estate onto Singapore’s property market. They also allow the authorities to convert confiscated assets into proceeds following the conclusion of the related criminal cases.
