A Sentosa Cove Plot at 69 Oceana Drive, once owned by convicted money launderer Su Baolin, has been sold for $22 million.
The transaction was confirmed through documents obtained by The Straits Times. The latest price of that particular piece translates to around $1,125 per sq ft, based on the total land area of 19,550 sq ft.
The new owner is reported to be Mr Benedict Beh Wei Hao, according to a ST report.
This rare piece of land offers unblocked views of the sea and the Central Business District has a 99-year leasehold tenure from July 26, 2005.
This is also among the 10 sea-facing plots in Sentosa Cove, making it one of the rarity among the 250 bungalow plots in the vicinity, excluding terrace and strata-landed plots.
According to records, a caveat was lodged on 27 September 2024, sealing the deal.
The property was listed for sale in April by OCBC Bank to recover over $20 million in outstanding housing loans and credit card debts issued to Su.
OCBC confirmed that it has pursued legal proceedings in August 2023 to recover Su's outstanding housing loans.
A court decision on 5 January 2024 ruled in favor of OCBC, allowing the bank to proceed with the sale.
Su reportedly owned approximately $19.7 million in home loads and credit card debt, with total dues exceeding $20 million by 15 April due to accrued interest.
Su along, with nine others, were arrested in an islandwide police operation against money laundering offences in August 2023.
Su pleaded guilty to three out of 13 charges; one for possessing $777,220.50 in cash which was suspected to be benefits of their criminal conduct; he was also alleged to have been part of unlawful remote gambling operation and using the benefits from his criminal activity to buy himself a car; thirdly, he allegedly made false statement to the Controller of Work Passes in October 2022 stating that his spouse MaNIng would be employed as a sales and marketing director at SG-Gree.
All 10 suspects have been sentenced to 14 months jail on April 29,2024.
Recently, various rumors about the liberalization of mining have begun to circulate again. As a former long-term practitioner in this field, I certainly hope that the industry can recover, but mining can only return to the state before May 21, and it is impossible to liberalize it.
JinseFinanceMr. Wei Dai's contributions and thoughts on the cypherpunk movement, Bitcoin and blockchain digital currency, and superhuman intelligence are still in the historical process of gradually becoming known to the world. This article can even provide reference and inspiration for today's American education.
JinseFinanceINTERNET CITY, DUBAI, Jul. 12, 2022 – LBank Exchange, a global digital asset trading platform, will list WEIcrypto (WEI) on ...
Bitcoinist