In the early hours of Aug 15, 2023, more than 400 police officers conducted simultaneous raids across the island at various locations, nabbing a total of 10 people linked to organised crime including scams and online gambling.
A list containing the details of the 10, along with another 24 related persons, was later circulated by the authorities to financial institutions and dealers of precious stones and metals, for them to flag and report any transactions involving those on the list.
Checks by ST found that many of those on the list have shared interests in properties and companies in Singapore and overseas, and also hold passports from multiple countries.
The police initially said in September 2023 that another eight persons were on the run, while 12 are assisting with investigations.
In June 2024, the police said that aside from the 10 who were arrested, another 17 people were under investigation in relation to the case.
The 17 are believed to be on the run, and they include two men who have Interpol Red Notices issued against them for money laundering offences.
Of the $3 billion in assets involved, about $900 million has been linked to the 10 who have been convicted. The remaining $2.1 billion in assets are linked to the 17 on the run.