DBS is understood to have accepted offers for 13 mortgaged shophouses in Chinatown and Geylang owned separately by two individuals connected to the S$3 billion money laundering case.
The two men – Su Fuxiang and Su Binghai – left Singapore abruptly amid the money laundering bust last year, The Straits Times reported previously. The duo are connected to Wang Dehai, one of the 10 people from Fujian, China, convicted in Singapore’s biggest money laundering case.
DBS put the companies which held the shophouses into receivership in September last year. A receiver is appointed to take possession of and sell or liquidate assets in order to repay a company’s outstanding debt.
Source: THE BUSINESS TIMES
