SINGAPORE: A total of 47 luxury cars linked to the foreigners investigated in Singapore’s largest money laundering case are being auctioned off.
An internal listing seen by The Straits Times on July 23 showed at least 11 Rolls-Royce cars in an auction by Sgcarmart Quotz, an online platform for used-car dealers and registered companies.
The closed-bidding auction was publicised in ST’s classified pages on July 28.
A spokesperson for Deloitte, which was appointed to manage the liquidation of the seized assets on Aug 12, 2025, confirmed with ST that it had appointed Quotz to auction off the vehicles.
Included in the list are two Bentley Flying Spur limousines and supercars from brands like Ferrari and McLaren, along with 24 high-end seven-seaters like the Toyota Alphard and Toyota Vellfire.
The cars were registered between 2017 and 2023, with valid certificates of entitlement.
One of two Rolls-Royce Phantom EWB Series II cars that were registered on May 13, 2023, had been driven for just 284km. A Ferrari SF90 Stradale Plug-in Hybrid, which was registered in the same month, has 500km on its odometer.
The oldest car on the list is a Bentley Flying Spur from March 15, 2017, with a mileage reading of 22,530km.
Checks by ST found sellers of used Ferrari SF90s, registered between 2021 and 2023, were asking for around S$1.6 million for the car, while a 2023 Rolls-Royce Phantom EWB Series II had an asking price of around $2 million.
Several of the cars in the listing appeared coated with dust, and the steering wheels of at least four sports cars had what looked like mould on them, based on the images published on the auction webpage.
Some of the cars had been in storage since October 2023, including a Rolls-Royce Dawn and Porsche 911 Targa.
The workshop inspection reports, which accompany the vehicle listings, showed that many of the cars need restoration work, including replacement of batteries and tyres, and in some cases, an overhaul of the air-conditioning system and repairs to air suspension systems.
Some of the cars come with vehicle registration numbers like “888” or a single digit like “1”. Geoveen Hi, a veteran motor trader, said the registration numbers alone can fetch upwards of $60,000 in the resale market.
Hi, who is thinking about bidding for some of the vehicles, said that for cars like the Rolls-Royce Phantom, successful bidders will have to set aside between $50,000 and $60,000 in repairs before they can hit the road.
The auction comes three years after a police anti-money laundering blitz on Aug 15, 2023, led to the arrest of 10 foreigners. They were sentenced for a number of offences including forgery.
They were later deported and banned from re-entering Singapore after serving sentences of between 13 and 17 months. They also surrendered cash and assets seized in the investigation as part of their sentence.
ST understands that the cars listed for auction include several that belonged to 17 suspects who managed to evade arrest by fleeing Singapore. In total, 15 later agreed to surrender their assets valued at around $1.85 billion.
The Ferrari SF90 Stradale Plug-in Hybrid in the list, and a blue Ferrari F8 Spider also being auctioned, previously belonged to one of the fugitives, Su Binghai.
ST reported in January 2024 that the Government confiscated 207 properties, 77 vehicles, more than $1.45 billion in bank accounts and more than $76 million in cash of various currencies linked to the criminal network.
A police spokesperson previously told ST the seized assets cost $2.65 million in the 2023 and 2024 financial years to maintain and manage.
Some 33 vehicles were liquidated by the Government as at December 2024. All proceeds from the seized assets will be paid into the Consolidated Fund. - The Straits Times/ANN
