A top land plot in Sentosa facing out over Singapore’s Marina Bay that formerly belonged to an online gambling-linked Cambodian money launderer has now been sold for a premium.
According to The Straits Times, the 1,816-square meter plot was sold for SG$22 million ($16.7 million).
The plot formerly belonged to accused Cambodian money launderer Su Baolin, who allegedly made millions from operating illegal gambling sites in Myanmar between 2019 and 2023. The sites reportedly targeted users based in Brazil and China, with proceeds received in crypto.
Su is allegedly linked to the multi-billion-dollar money laundering case which shocked Singapore last year. A Chinese national holding a Cambodian passport, Su was handed over a dozen charges linked to the case. Parts of the proceeds of his actions are believed to have been used for the purchase of real estate, oftentimes held in the names of close associates or family members.
The land plot sale, according to experts, represents a new benchmark for seafront land in the area, particularly given the recent absence of transactions on land-only properties. Other transactions in the Sentosa Cove area, a main district, have boomed in the first half of the year, hitting 101.
The land carries a leasehold of 99 years.
Su was arrested in August of last year and sentenced to 14 months in jail, as well as forfeiture of SG$65 million ($49.34 million). He has been deported from Singapore.
