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Sep 10, 2026

Singapore auctions luxury items seized in $2.37 billion money laundering case

Singapore has begun online auctions of over 600 luxury items forfeited in its S$3 billion money laundering case, with 15 auctions scheduled to run through May 2027. The first two auctions feature 338 items including designer bags, jewelry, and a 15-carat diamond.

Sep 10, 2026·2 sources

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Top claims

▪The forfeited assets were held in the custody of auditing firm Deloitte and the Singapore Police Force before being transferred to Hotlotz for the auction.
▪Former Citibank relationship manager Wang Qiming was sentenced to 24 months in prison for helping convicted offender Su Baolin exchange 864,888 USDT for Singapore dollars in December 2020.
▪The Hotlotz auctions are open to global participants online, requiring all bidders to register and complete identity verification, with no in-person, telephone, or agent bidding permitted.

Subtopics

Crypto enforcement actions Crypto regulation Anti-money laundering (AML)

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