Singapore Busts $736 Million Money Laundering Ring

(Bloomberg) — Singapore charged 10 foreigners Wednesday in one of its biggest money laundering and forgery cases involving S$1 billion ($736 million) of properties, luxury cars, cash and other assets.

The gang was arrested following simultaneous raids Aug. 15 at high-end bungalows and condominiums, according to a statement late Wednesday from the police. The 10 included nationals from China, Cyprus and Turkey. Passports believed to be issued by China, Cambodia and the Dominican Republic were also found.