The police have arrested two directors of a fund management company and seized over $160 million of the company's assets over alleged money laundering. In a joint news release on Monday (March 9), the police and Monetary Authority of Singapore (MAS) said they jointly conducted enforcement operations against Capital Asia Investments Pte Ltd. The company and its directors are suspected of money laundering and failure to comply with various obligations as a licensed capital markets services licence holder under the Financial Services and Markets Act. MAS said in the news release that it had received information about possible unlawful activities by the company and has been reviewing its activities. Its supervisory review found «serious control failings» in the company's compliance with MAS' anti-money laundering requirements. Meanwhile, police said its Suspicious Transaction Reporting Office also received financial intelligence regarding the alleged involvement of the company and its related entities in a transnational money laundering network.  Read more