SINGAPORE: British authorities have confiscated nine London apartments, rare dinosaur fossils worth millions of pounds, and a collection of Chinese artworks belonging to Su Binghai, a key figure connected to Singapore’s S$3 billion money laundering case.
According to Reuters, the UK’s National Crime Agency (NCA) reached a settlement agreement with Su and his company under the Proceeds of Crime Act. As part of the agreement, assets including two Allosaurus fossils and one Stegosaurus fossil were seized on Nov 5.
The Proceeds of Crime Act empowers British authorities to recover property suspected of being illegally obtained, even without a criminal conviction. The NCA has not disclosed specific charges related to Su’s case.
The dinosaur skeletons, dating back about 150 million years to the Jurassic period, fetched £12.4 million (about S$21.2 million) at a Christie’s auction last year. Photographs released by the auction house showed the fossils arranged like exhibits in a natural history museum.
In addition, 11 Chinese artworks linked to Su were confiscated. The pieces had been sold at auction in 2022 for more than £400,000 (approximately S$684,752).
According to a court order, one-quarter of the proceeds from the sale of the recovered assets will be deposited into a bank account designated by Su.
Su Binghai is among several individuals tied to Singapore’s largest money laundering case, involving over S$3 billion in assets. He left Singapore on August 15, 2023, the same day police launched a massive island-wide operation, and has not returned since.
On October 9, 2024, Su and his wife agreed to surrender assets worth approximately S$316.6 million, including four luxury cars valued at about S$8.36 million. He has also been banned from entering Singapore.
