Singapore’s police said 15 foreign nationals have surrendered assets worth about S$1.85 billion (US$1.37 billion) in the city-state’s largest money laundering case. Despite surrendering the assets, the suspects remain at large, outside the city.
The 15 fugitives, part of a group of 17 suspects, have agreed to surrender their assets and have been barred from returning to Singapore, according to police.
OCCRP has previously reported some of these fugitives, including Su Binghai and Su Fuxiang, businessmen who evaded police capture in Singapore, along with Su Shuiming, Su Shuijun, and Chen Mulin, who bought out entire floors of the same luxury skyscraper in Dubai overlooking the iconic Burj Khalifa, cumulatively worth tens of millions of dollars.
The money laundering case, involving more than S$3 billion (US$2.23 billion), surfaced in August 2023 when 10 foreign nationals were arrested in multiple raids. More than 400 police officers carried out islandwide operations, arresting nine men and one woman linked to organized crime, including scams and online gambling.
With the latest surrender, the total value of assets recovered in the case reached nearly S$2.8 billion (US$2.08 billion), as 10 previously arrested suspects surrendered S$944 million (US$702.79 million) before being expelled from the island state.
According to Singapore Law Watch, the Attorney-General’s Chambers (AGC) advised against extraditing the suspects, as their locations are unknown and the evidence against them may be insufficient. After consulting with AGC, police decided to withdraw Interpol Red and Blue notices filed against the individuals in exchange for the immediate surrender of their assets.
In addition to the 10 detainees, 17 others remain under investigation, with assets worth S$144.9 million (US$107.86 million) still seized or under restriction. Investigations and court proceedings involving others accused of aiding the money laundering activities are ongoing.