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08-03-24, 13:34
Rolls-Royce, Mercedes linked to money laundering probe towed away from D’Leedon condo
Mar 07, 2024
THREE vehicles linked to Singapore’s money laundering investigation were seized from D’Leedon condominium on Wednesday (Mar 6), as the police dragnet that has so far swept up over S$3 billion worth of cash, cars, properties and luxury goods widens.
Photos seen by The Business Times showed a gray Toyota, black Mercedes-Benz and a black Rolls-Royce being towed away from the District 10 condominium on Leedon Road.
BT understands that police seized the three vehicles, and that they belong to a male foreigner who lived in a ground-floor unit at the 1,715-unit D’Leedon. He is said to have been renting the unit for two years with his wife and children.
According to a person who witnessed the cars being towed away on Wednesday, the man – believed to be of Fujian origin – has not been seen in the condo for at least half a year. It is not known if his wife and children are in Singapore.
Located in the prime Bukit Timah area, D’Leedon has seven blocks which are 36-storeys high. It is located near Farrer Road MRT station and close to schools including Nanyang Primary School and Hwa Chong Institution.
The 99-year leasehold project was developed by a CapitaLand-led consortium including Hotel Properties Ltd, a fund managed by Morgan Stanley Real Estate and a unit of Wells Fargo. The condominium was launched in 2010 at an average selling price of S$1,680 per square feet.
Units on the first floor are known as garden houses and range from about 3,700 to 6,534 square feet. Each garden house is three-storeys high and has its own private carpark.
According to URA Realis data, several garden houses between 4,600 and 5,200 sq ft were rented out for S$20,000 per month between February 2022 and August 2023.
It is not known if the person linked to the cars seized is one of the 10 people nabbed so far since police raided residences and arrested suspects in August last year. The case continues to be heard in court.
Among the 10 suspects, Su Wenqiang is expected to plead guilty on Apr 2. He faces 11 charges, including using criminal proceeds from providing an unlawful remote gambling service in the Philippines to pay for rent at a 3 Orchard By-The-Park condominium unit and a Good Class Bungalow in Lewis Road. In total, Su is said to have spent at least S$359,877 on these rental payments.
He is also charged with using S$500,000 in illegal proceeds to buy a Mercedes-Benz in January 2022.
Another accused person, Wang Dehai, had allegedly used S$23 million worth of proceeds from an unlawful remote gambling service in the Philippines to buy a condominium unit in The Marq on Paterson Hill in 2019.
The assets confiscated by the police in relation to the case include 207 properties, 77 vehicles, more than S$1.45 billion in bank account monies and over S$76 million in cash of various currencies so far.
Among the real estate assets that were frozen, several shophouses have now been put on the market by receivers acting for DBS, which the shophouses are mortgaged to.
The police said it will lift the prohibition of disposal orders against these properties when it is satisfied that the sale is conducted fairly. This would enable the sales proceeds to be recovered.
The police have also seized thousands of bottles of liquor and wine, cryptocurrency worth more than S$38 million, 68 gold bars, 483 luxury bags, 169 branded watches and 580 pieces of jewellery.
Two more individuals, Su Yongcan and Wang Huoqiang, have been issued with warrants of arrest and Interpol Red Notices. Both have Cambodian passports and had left Singapore prior to the islandwide raid on Aug 15, 2023.
Su Yongcan is the owner of a S$26 million penthouse at South Beach Residences, BT reported last year.
https://www.businesstimes.com.sg/property/rolls-royce-mercedes-linked-money-laundering-probe-towed-away-d-leedon-condo
Mar 07, 2024
THREE vehicles linked to Singapore’s money laundering investigation were seized from D’Leedon condominium on Wednesday (Mar 6), as the police dragnet that has so far swept up over S$3 billion worth of cash, cars, properties and luxury goods widens.
Photos seen by The Business Times showed a gray Toyota, black Mercedes-Benz and a black Rolls-Royce being towed away from the District 10 condominium on Leedon Road.
BT understands that police seized the three vehicles, and that they belong to a male foreigner who lived in a ground-floor unit at the 1,715-unit D’Leedon. He is said to have been renting the unit for two years with his wife and children.
According to a person who witnessed the cars being towed away on Wednesday, the man – believed to be of Fujian origin – has not been seen in the condo for at least half a year. It is not known if his wife and children are in Singapore.
Located in the prime Bukit Timah area, D’Leedon has seven blocks which are 36-storeys high. It is located near Farrer Road MRT station and close to schools including Nanyang Primary School and Hwa Chong Institution.
The 99-year leasehold project was developed by a CapitaLand-led consortium including Hotel Properties Ltd, a fund managed by Morgan Stanley Real Estate and a unit of Wells Fargo. The condominium was launched in 2010 at an average selling price of S$1,680 per square feet.
Units on the first floor are known as garden houses and range from about 3,700 to 6,534 square feet. Each garden house is three-storeys high and has its own private carpark.
According to URA Realis data, several garden houses between 4,600 and 5,200 sq ft were rented out for S$20,000 per month between February 2022 and August 2023.
It is not known if the person linked to the cars seized is one of the 10 people nabbed so far since police raided residences and arrested suspects in August last year. The case continues to be heard in court.
Among the 10 suspects, Su Wenqiang is expected to plead guilty on Apr 2. He faces 11 charges, including using criminal proceeds from providing an unlawful remote gambling service in the Philippines to pay for rent at a 3 Orchard By-The-Park condominium unit and a Good Class Bungalow in Lewis Road. In total, Su is said to have spent at least S$359,877 on these rental payments.
He is also charged with using S$500,000 in illegal proceeds to buy a Mercedes-Benz in January 2022.
Another accused person, Wang Dehai, had allegedly used S$23 million worth of proceeds from an unlawful remote gambling service in the Philippines to buy a condominium unit in The Marq on Paterson Hill in 2019.
The assets confiscated by the police in relation to the case include 207 properties, 77 vehicles, more than S$1.45 billion in bank account monies and over S$76 million in cash of various currencies so far.
Among the real estate assets that were frozen, several shophouses have now been put on the market by receivers acting for DBS, which the shophouses are mortgaged to.
The police said it will lift the prohibition of disposal orders against these properties when it is satisfied that the sale is conducted fairly. This would enable the sales proceeds to be recovered.
The police have also seized thousands of bottles of liquor and wine, cryptocurrency worth more than S$38 million, 68 gold bars, 483 luxury bags, 169 branded watches and 580 pieces of jewellery.
Two more individuals, Su Yongcan and Wang Huoqiang, have been issued with warrants of arrest and Interpol Red Notices. Both have Cambodian passports and had left Singapore prior to the islandwide raid on Aug 15, 2023.
Su Yongcan is the owner of a S$26 million penthouse at South Beach Residences, BT reported last year.
https://www.businesstimes.com.sg/property/rolls-royce-mercedes-linked-money-laundering-probe-towed-away-d-leedon-condo