Luxury Cars Linked to $3 Billion Money Laundering Case Up for Auction

Singapore, Singapore Jul 28, 2026 ALN: A total of 47 luxury cars linked to the foreigners investigated in Singapore’s largest money laundering case are being auctioned off. This auction is part of a broader initiative to liquidate assets seized during the investigation into a vast criminal network that allegedly laundered billions of dollars.

The internal listing seen by The Straits Times on July 23 revealed that at least 11 Rolls-Royce cars are included in the auction, which is being conducted by Sgcarmart Quotz, an online platform catering to used-car dealers and registered companies. The closed-bidding auction was publicized in the classified pages of The Straits Times on July 28, attracting attention from car enthusiasts and potential bidders alike.

A spokesperson for Deloitte, which was appointed to manage the liquidation of the seized assets on August 12, 2025, confirmed that it had engaged Quotz to handle the auction of these luxury vehicles. This step is part of the process following a significant crackdown on money laundering activities that has garnered considerable media attention and public scrutiny.

The auction features a diverse array of high-end vehicles, including two Bentley Flying Spur limousines and supercars from renowned brands such as Ferrari and McLaren. Additionally, the list includes 24 high-end seven-seater vehicles like the Toyota Alphard and Toyota Vellfire, which are popular among affluent families in Singapore.

Notably, the cars were registered between 2017 and 2023, and all possess valid certificates of entitlement, which are necessary for vehicle ownership in Singapore. Among the vehicles, one of the two Rolls-Royce Phantom EWB Series II cars, registered on May 13, 2023, had been driven for just 284 kilometers. Similarly, a Ferrari SF90 Stradale Plug-in Hybrid, also registered in May 2023, has only 500 kilometers on its odometer. This low mileage suggests that many of these cars may have been purchased for status rather than practical use, a common trend among luxury car owners.

The oldest vehicle in the auction is a Bentley Flying Spur from March 15, 2017, which has a mileage reading of 22,530 kilometers. This relatively low mileage for its age may increase its desirability among collectors and enthusiasts. Checks by The Straits Times indicated that sellers of used Ferrari SF90s, registered between 2021 and 2023, typically ask for around $1.6 million, while a 2023 Rolls-Royce Phantom EWB Series II has an asking price of approximately $2 million.

However, the condition of some of the cars has raised concerns among prospective buyers. Images published on the auction webpage revealed that several of the cars appeared coated with dust, and at least four sports cars had steering wheels that seemed to have developed what looked like mold. This suggests that the vehicles may not have been maintained properly during their time in storage.

Indeed, some of the cars had been in storage since October 2023, including a Rolls-Royce Dawn and a Porsche 911 Targa. The workshop inspection reports accompanying the vehicle listings indicated that many of the cars require restoration work. This could include the replacement of batteries and tires, as well as more extensive repairs such as overhauls of the air-conditioning systems and repairs to air suspension systems. Such necessary repairs could significantly impact the overall cost for potential bidders.

Additionally, some of the cars come with unique vehicle registration numbers, such as “888” or single-digit numbers like “1.” Geoveen Hi, a veteran motor trader, noted that these registration numbers alone can fetch upwards of $60,000 in the resale market, adding to the appeal of the auction for collectors and investors.

Hi, who is contemplating bidding on some of the vehicles, mentioned that successful bidders for luxury cars like the Rolls-Royce Phantom should be prepared to allocate between $50,000 and $60,000 for repairs before the vehicles can be roadworthy. This highlights the importance of assessing the condition of the cars thoroughly before participating in the auction.

The auction is taking place three years after a police anti-money laundering blitz on August 15, 2023, which led to the arrest of 10 foreigners. These individuals were subsequently sentenced for a variety of offenses, including forgery, and were later deported and banned from re-entering Singapore after serving sentences ranging from 13 to 17 months. As part of their sentences, they surrendered cash and assets that were seized during the investigation.

It is understood that the cars listed for auction include several that belonged to 17 suspects who managed to evade arrest by fleeing Singapore. In total, 15 of these individuals later agreed to surrender their assets, which were valued at approximately $1.85 billion. This highlights the scale of the money laundering operation and the significant financial implications for the individuals involved.

The Ferrari SF90 Stradale Plug-in Hybrid in the auction, along with a blue Ferrari F8 Spider, previously belonged to one of the fugitives, Su Binghai, further illustrating the connection between high-value assets and criminal activities. Reports from January 2024 revealed that the Government confiscated 207 properties, 77 vehicles, over $1.45 billion in bank accounts, and more than $76 million in cash of various currencies linked to this criminal network.

A police spokesperson previously informed The Straits Times that the seized assets cost the Government approximately $2.65 million in the financial years 2023 and 2024 to maintain and manage. This underscores the ongoing financial burden associated with managing seized assets from criminal enterprises.

As of December 2024, the Government had liquidated 33 vehicles as part of its efforts to recover funds associated with the money laundering case. All proceeds from the sale of these seized assets will be directed into the Consolidated Fund, which is used to support various public services and initiatives in Singapore. This auction not only serves as a means to recover funds but also sends a strong message regarding the consequences of engaging in illegal financial activities.

In conclusion, the auction of these luxury cars represents a significant step in the ongoing fight against money laundering in Singapore. It reflects the Government's commitment to cracking down on financial crimes and ensuring that those involved face appropriate consequences for their actions. As the auction date approaches, the interest from potential bidders is likely to grow, not only due to the allure of owning luxury vehicles but also as a part of a broader narrative surrounding accountability and justice in financial dealings.