In a case involving over S$1 billion ($737 million) in cash, houses, luxury cars, and other assets, Singapore police arrested ten foreigners for alleged money laundering and forgeries.

The police conducted simultaneous raids around the city-state on Tuesday to apprehend the individuals, according to a statement released on Wednesday.

Prohibition of disposal orders were issued against 94 properties and 50 vehicles, with a total estimated value of more than S$815 million.

Other seizures included bank accounts, cash, luxury bags, jewellery, watches, electronic devices and some documents with information on virtual assets.

The foreigners were aged between 31 and 44, and their nationalities include Chinese, Turkish, Cypriot, Cambodian and Ni-Vanuatu, Singapore police said.

In a separate statement, the Singapore central bank said it has been “in touch with the financial institutions (FIs) where the potentially tainted funds have been identified. Supervisory engagements with these FIs are ongoing”, without naming the FIs.