Business · Singapore Bureau
Seized Sentosa Cove bungalows of convicted money launderers released for sale
Two luxury bungalows on the island resort, previously owned by convicted money launderer Su Haijin and associates, have been placed on the market through an expression of interest process. Guide prices for each property start at $15.68 million.
LSN Singapore ·
Two bungalows at Sentosa Cove have been released for public sale following their seizure from convicted money launderers Su Haijin and two others. The properties are being marketed through an expression of interest sale process, with guide prices commencing at $15.68 million for each unit.
The sale marks a significant development in the enforcement of Singapore's financial crime regulations. The bungalows, situated on the exclusive island resort, represent substantial assets recovered through legal proceedings against individuals convicted of money laundering offences.
Intending buyers are invited to submit expressions of interest for the properties. The guide pricing suggests the Sentosa Cove bungalows remain among the most sought-after residential addresses in Singapore, commanding premium valuations despite their complex recent history.
The sale process represents standard practice for the disposal of seized assets by authorities, with proceeds typically directed to the state following legal proceedings. The release of these high-profile properties to market underscores ongoing efforts to address financial crime within the city-state's banking and real estate sectors.