Singapore police arrested over 10 people and are seeking eight others, suspected of fraud, gambling, and money laundering

ChainCatcher news, the Singapore police announced the arrest of 10 suspects, with twelve others assisting in the investigation, and eight currently wanted by the police. These individuals (all holding Chinese passports, three of whom are Chinese nationals) are suspected of participating in money laundering related to organized crime activities overseas (including fraud and online gambling).

Authorities have issued disposal prohibitions on 94 properties and 50 vehicles, with a total estimated value exceeding 815 million Singapore dollars. The police have also seized more than 35 related bank accounts (with balances exceeding 110 million Singapore dollars), cash (including foreign currency) totaling over 230 million Singapore dollars, multiple pieces of jewelry and ornaments, as well as 11 documents related to virtual asset information.

The police stated that all involved individuals are neither Singapore citizens nor permanent residents. Under relevant laws, individuals convicted of money laundering can face up to 10 years in prison, or a fine of up to 500,000 Singapore dollars, or both.