PUBLISHED ONMarch 09, 2026 10:50 AMBYSean LerThe police have arrested two directors of a fund management company and seized over $160 million of the company's assets over alleged money laundering.
In a joint news release on Monday (March 9), the police and Monetary Authority of Singapore (MAS) said they jointly conducted enforcement operations against Capital Asia Investments Pte Ltd.
The company and its directors are suspected of money laundering and failure to comply with various obligations as a licensed capital markets services licence holder under the Financial Services and Markets Act.
MAS said in the news release that it had received information about possible unlawful activities by the company and has been reviewing its activities.
Its supervisory review found "serious control failings" in the company's compliance with MAS' anti-money laundering requirements.
Meanwhile, police said its Suspicious Transaction Reporting Office also received financial intelligence regarding the alleged involvement of the company and its related entities in a transnational money laundering network.
Acting on the information, the police commenced investigations and engaged its foreign counterparts for information and assistance as the proceeds of crime were allegedly derived from overseas organised crime activities including scams.
Police said the $160 million seized were from the company's bank and securities accounts, adding that investigations are ongoing.
Those found guilty of money laundering may be jailed for up to ten years, fined up to $500,000, or both.
Offences under the Financial Services and Markets Act carry a fine of up to $1 million, with further fines for continuing offences, if applicable.
The authorities also warned would-be perpetrators that Singapore takes a serious view of individuals and entities which seek to exploit Singapore's financial system for money laundering and other criminal activities.
Police added that they will take strong enforcement action and deal firmly with offenders.
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