Singapore seizes US$42.4 million bungalow linked to Nvidia chip fraud

Singapore authorities have seized a Good Class Bungalow (GCB) valued at around S$55 million (US$42.4 million) and around S$1 million of funds in connection with a fraud conspiracy, the police said on Wednesday. The case has been linked to the movement of Nvidia chips in contravention of US export controls. It is understood that the GCB is located at 12 Chee Hoon Avenue. The police issued a prohibition of disposal order against the GCB and seized funds in bank accounts as part of investigation...

By CNA