4 condos seized in Singapore's $3b money-laundering case just sold at auction — here's how much they sold for
Four condominium units that were seized during Singapore’s $3 billion money-laundering case were sold during a property auction by SRI on Sept 23, with two units each at Martin Modern and Wallich Residence finding buyers.All things considered, this is a surprisingly strong result for a property auction where it takes a little bit longer for most properties on the block to get sold, often through private treaty deals after the auction.Three agencies* — Knight Frank Singapore, ETC, and SRI — were tasked with marketing, and auctioning off, the seized properties. *List International Realty is also handling some of the forfeited properties, but through expression-of-interest sales and not auctions.At its auction today, SRI sold four out of 10 units that came from Martin Modern and Wallich Residence, with six from Martin Modern and four from Wallich Residence.On the other hand, ETC’s auction today also produced no completed sales. Although there was a $3.1 million offer for the industrial unit at Shun Li Factory, that was ultimately withdrawn.