Singapore auctions luxury assets seized in S$3B money laundering case

Singapore has commenced the auction of luxury assets seized in connection with a S$3 billion money laundering investigation. The first two batches of forfeited items include 338 handbags and accessories, alongside 286 pieces of jewellery.

The combined pre-sale estimate for these initial lots ranges from S$2.9 million to S$3.9 million. The auction house, Hotlotz, was appointed by Deloitte Singapore to manage the disposal of forfeited goods through a series of 15 auctions scheduled between September 2026 and May 2027.

Bidding is conducted online and is open to international participants, though all bidders must undergo identity verification. While interested parties can inspect items at Le Freeport in the Changi North area by appointment, the auction process itself remains strictly digital.