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The assets will be released in phases from September through mid-2027, according to Deloitte Singapore, which was appointed by the Singapore Police Force in July 2025 to manage and liquidate forfeited non-cash assets.

The real estate includes luxury properties linked to the money laundering network. Authorities had previously seized more than 200 properties, including homes in prime areas such as Orchard Road and Sentosa, according to Bloomberg.

More than 80 properties are now due to be progressively offered for sale. Real estate firms SRI, Edmund Tie & Company and Knight Frank have been appointed to handle property auctions, while selected properties will be marketed by List International Realty through an expression-of-interest process.

The disposal also covers more than 1,000 luxury goods, including handbags, watches and jewelry. Singapore auction house Hotlotz plans to hold 15 online auctions between September 2026 and May 2027, The Straits Times reported.

The first two auctions will open for bidding on Sept. 7 and feature hundreds of handbags, accessories and pieces of fine jewelry. Among the most valuable items is a 15.02-carat yellow diamond ring estimated at S$200,000-S$300,000.

Other items include luxury goods from brands such as Chanel, Louis Vuitton, Christian Dior, Bulgari and Van Cleef & Arpels. Later auctions are expected to feature Hermes handbags and watches from Patek Philippe, Richard Mille and Rolex, according to Business Times.

The sales are part of the authorities’ efforts to recover assets from Singapore’s largest money laundering case, which came to light after islandwide police raids on Aug. 15, 2023.

Ten foreigners arrested in the raids were subsequently convicted and deported from Singapore. Authorities seized or took control of around S$1.25 billion in non-cash assets during the investigation, including properties, cars, artwork, watches, jewelry, gold bars and luxury bags.

The government also confiscated more than S$1.45 billion held in bank accounts and over S$76 million in cash, along with cryptocurrency, 68 gold bars, 483 luxury bags, 169 branded watches and 580 pieces of jewelry.

Around S$1.4 billion in cash from seized bank accounts and other liquidated proceeds had already been paid into Singapore’s Consolidated Fund by the end of the 2025 financial year. Proceeds from the latest asset sales will also go into the fund.