SINGAPORE – Two directors of a fund management company have been arrested over suspected money laundering offences and suspected failure to comply with financial services requirements.
The company, Capital Asia Investments, also had more than $160 million of assets in bank and securities accounts seized.
This follows joint enforcement operations against the company conducted by the police and the Monetary Authority of Singapore (MAS) on March 5, the authorities said in a joint statement on March 9.
MAS has been reviewing Capital Asia Investments and its activities after receiving information about possible unlawful activities by the company, the statement said.
