Singapore is preparing to auction forfeited luxury goods and real estate tied to a S$3 billion money laundering case, with auctions expected to begin in September. Deloitte says more than 1,000 luxury items and about 80 property assets are set to be put up for sale.
The property auctions are to be conducted by real estate firms SRI, Edmund Tie and Knight Frank, while Hotlotz will handle the luxury goods. The items include jewellery, watches and handbags, according to reporting that describes the goods as luxury lots.
Outlet coverage focuses on similar logistics but varies in emphasis. The Straits Times highlights the scale of the auction—over 80 properties and 1,000 luxury items—while Channel NewsAsia specifies that the auctions start from September and names the auction participants for each asset category. The South China Morning Post also links the case to a US$2.4 billion equivalent and notes that some properties may additionally be sold via an expression of interest process. Deloitte’s involvement is cited across the reports.
