Singapore seizes $42m home in Nvidia chip smuggling case

Singapore authorities have seized a multimillion-dollar mansion and charged people with money laundering as part of a case of suspected cross-border smuggling of hardware containing Nvidia chips.

A prohibition of disposal order was issued against the luxury home, valued at about SGD 55M ($42M), freezing the asset and preventing its purchase or sale. Funds in bank accounts under investigation, valued at about SGD 1M, were also seized.

Lim Jenny and Woon Guo Jie Aaron, two people suspected of involvement in the alleged smuggling, face money laundering charges. Four firms allegedly linked to the export of computer servers that might contain Nvidia chips to Malaysia are facing charges for false representation.

The companies are Aperia International, A-Speed Infotech, and Aperia Cloud Services (II) — collectively known as the Aperia group — and Luxuriate Your Life.

This comes after a US investigation into whether Chinese start-up Deepseek had circumvented US restrictions on advanced Nvidia chips by buying them from third parties in other countries, including Singapore.

Luxuriate Your Life was charged on July 1, while the other three firms will be charged on July 6.

Three individuals were also hauled to court on July 1 and charged with various offences, including fraud and money laundering.

Reference Sources

1. nikkei - Singapore seizes $42m home in Nvidia chip smuggling case
2. asiaone - Nvidia chips case: 4 firms face charges over false representation accusations; $56m in assets seized, Singapore News - AsiaOne
3. mothership - S'pore police seize S$55 million Good Class Bungalow linked to Nvidia chips fraud case
4. cna - S$55 million Good Class Bungalow seized in connection with Nvidia chip movement case
5. malaymail - Singapore seizes S$55m Good Class Bungalow and S$1m in bank funds in widening Nvidia chip probe

Rubio would step aside for Vance in 2028 White House race

US Secretary of State Marco Rubio will not run for the Republican nomination for US president in the 2028 election if Vice President JD Vance announces such an intention, according to the Associated Press.

Rubio has repeatedly mentioned in conversations with his advisers and aides his intention to make way for Vance.

In recent months, Rubio, while serving as Secretary of State and assistant to the President for national security affairs, has significantly strengthened his influence in the administration by appointing his supporters to key positions on the White House National Security Council.

The outlet also notes that Rubio and Vance are developing different approaches to implementing US President Donald Trump's foreign policy and defense agenda.

Reference Sources

1. usnews - Vance and Rubio Take Different Approaches as Iran Tests Their 2028 Prospects
2. dailymail - News
3. apnews - Vance and Rubio take different approaches as Iran tests their 2028 prospects
4. newsukraine - Rubio would step aside for Vance in 2028 White House race

Google ordered to pay Klarna $1.5bn antitrust damages

Google has been ordered by a Swedish court to pay $1.97Bn in damages to Klarna after the buy now, pay later company won an antitrust case alleging that the search giant engaged in anticompetitive practices.

Klarna’s price-comparison unit, Pricerunner, sued Google in 2022 in a Swedish court.

Pricerunner alleged that Google was giving preferential treatment to its own price-comparison service in its search results. The case relates to Google’s actions in Pricerunner markets in the UK, Sweden, and Denmark between 2008 and 2023.

The antitrust damages mark a partial win for Klarna, which had sought “ significantly higher ” compensation of close to $8Bn, the court said on Wednesday.

“ Pricerunner is considered to have suffered damage as a result of Google having illegally favoured its price comparison service for many years, ” the Stockholm Patent and Market Court said in a statement. The case relates to Google’s actions in Pricerunner markets in the UK, Sweden, and Denmark between 2008 and 2023.

Reference Sources

1. wsj - Google Must Pay Nearly $2 Billion to Klarna in Antitrust Case
2. latimes - Google hit with $2 billion antitrust judgment for skewing shopping searches
3. bloomberg - Google Ordered to Pay Klarna Nearly $2 Billion in Antitrust Suit
4. ft - Google ordered to pay Klarna $1.5bn antitrust damages
5. barrons - What Klarna’s $2 Billion Antitrust Suit Victory vs. Google Means for the BNPL Stock

The CommonWealth English daily news digest is a service curated by CommonWealth English team with the help of AI tools.  

Have you read?

• Taiwan Steps Up Probe Into AI Hardware Smuggling
• South Korea to Invest Nearly $1.2 Trillion in Chips and AI Data Centers
• AI Boom Risks Global Financial Crash, Warn Central Bankers
• Taiwan Simulates Countering Chinese Maritime Blockade

Uploaded by Ian Huang