15-ct Fancy Yellow Diamond to Star in Money Launder Auction

(IDEX Online) - A 15.02-carat fancy yellow diamond ring is among more than 1,000 luxury items being auctioned in Singapore as part of the disposal of assets forfeited in a S$3 billion ($2.4 billion) money-laundering case.

The cushion modified-cut fancy yellow diamond, estimated at S$200,000 to S$300,000 (USD 150,000 to USD 225,000), is flanked by tapered white diamonds on the shank and is set in white and yellow gold.

It is the marquee lot in the first of 15 online auctions being conducted by Singapore auction house Hotlotz. Bidding is from September 7 to September 27.

The lots being offered form part of a far larger disposal exercise involving more than 80 properties and over 1,000 luxury items forfeited in connection with the case, which saw 10 foreigners convicted of money laundering and other offenses following arrests in 2023.

According to Deloitte Singapore, which was appointed by the Singapore Police Force in July 2025 to manage and realize the forfeited non-cash assets, the assets will be released in phases from this September to mid-2027.

The first wave will comprise two online auctions conducted by Singapore auction house Hotlotz, with 338 handbags and accessories, and 286 pieces of fine jewelry.

Together, the two sales carry pre-auction estimates of S$2.9 million to S$3.9 million, according to Hotlotz CEO Matthew Elton.

Other notable jewelry pieces include a rare Hermes Kelly bracelet in white gold, set with 263 diamonds weighing a combined 30.31 carats, valued at S$150,000 to S$200,000 ($112,000 to $150,000), and a Bulgari Serpenti necklace with an articulated serpent head picked out with diamonds and emerald eyes, estimated at S$60,000 to S$80,000 ($45,000 to $60,000).

The case involved criminals from China's southern Fujian province and shook Singapore's financial and luxury sectors when some of the members were arrested in raids in 2023.

Authorities have already begun liquidating some of the seized items, including cars and some residential and commercial assets.

Bidding will take place entirely online. Approved bidders will also be able to book limited appointments to inspect the goods at Le Freeport, the high-security, tax-free luxury storage facility in Singapore.

Pic of the ring courtesy Hotlotz.