Singapore Auctions Luxury Goods Seized in $2.2bn Money Laundering Case
Handbags, jewels and watches confiscated by police are being sold from a fortified storage facility, the BBC reports
Singapore authorities are auctioning off a cache of luxury goods, including designer handbags, jewelry and watches, that were seized by police in connection with a $2.2 billion money laundering case, according to the BBC.
The BBC said it was given access to a fortified storage facility in Singapore where the confiscated items are being held ahead of sale.
The luxury goods form part of assets linked to what has been described as one of Singapore's largest money laundering investigations, according to the report.
Details on the specific buyers, auction house, or total value expected to be raised from the sale of the items were not disclosed in the available report.
The BBC did not specify the exact date of the auction or provide further details on the individuals connected to the case whose assets were seized.
Sources
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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