Banks face headache from laundering scandal


The Marina Bay Sands hotel and casino in Singapore. — Bloomberg

Singapore: In a Singapore courtroom last Friday, the last of those arrested for their involvement in the island nation’s biggest laundering case pleaded guilty, paving the way for the next steps in the S$3bil scandal.

The city-state must now decide what to do with a fortune in forfeited assets, from luxury properties to collectible ornamental bears and luxury handbags.

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Singapore , laundering , funds

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