Singapore Seizes and Auctions 47 Luxury Vehicles in Money Laundering Bust

Singaporean authorities have seized a collection of 47 luxury vehicles as part of a massive money laundering bust. The vehicles, which include Rolls-Royces, Ferraris, and Bentleys, are being auctioned off in a closed-bid event. The fleet, which was left behind by convicted foreign nationals, features barely driven cars with low mileage.

However, the vehicles have suffered from neglect while in storage, with some showing signs of mold and dust. Bidders are warned that many of the cars will require mechanical intervention, including new batteries and tires. The auction is expected to draw interest from regional collectors, with all proceeds going to Singapore's Consolidated Fund.

The vehicles were registered between 2017 and 2023 and have valid Certificates of Entitlement. The auction is being managed by Deloitte and is taking place on the used-car platform Sgcarmart Quotz.