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

Singapore authorities have seized a so-called Good Class Bungalow (GCB) valued at around S$55 million (US$42.4 million) and around S$1 million (US$770,000) 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. GCBs are among the most prestigious type of housing in Singapore, with authorities imposing key planning constraints. It is understood that the seized GCB is located at.