Dinosaur Fossils Seized in London as Part of Record Money Laundering Probe

The remains of three dinosaurs sold at auction for £12.4 million have been seized under proceeds of crime law, casting a spotlight on the intersection of ultra-wealth and international investigations. The skeletons—an adult allosaurus, a juvenile allosaurus, and a stegosaurus—were acquired at Christie’s in London by Singapore-based businessman Su Binghai, who is linked to a suspected £2.5 billion money laundering operation.

These Jurassic-era fossils, excavated in Wyoming in 2002, included 144 stegosaurus bones mounted in a large three-dimensional display. The total sale price, including the buyer’s premium, reached £12.4 million during an auction held in December of the previous year. Acting on a settlement with the National Crime Agency, the High Court ordered the forfeiture of the fossils in London under the Proceeds of Crime Act, along with nine luxury apartments in Westminster and significant sums of rental income.

The Proceeds of Crime Act allows for the recovery of assets believed to be acquired unlawfully, even in the absence of a criminal conviction. Along with the dinosaur fossils, law enforcement also seized 11 Chinese artworks, including notable pieces from the Yongzheng and Ming periods, collectively valued at £400,000.

Christie’s maintains that it adhered to robust global anti-money laundering standards throughout the transaction and worked fully with authorities during the investigation. Details on the allegations against Su were not aired in court, though reports indicate ongoing inquiries in Singapore relating to an alleged $3 billion fraud and the surrender of substantial international assets by Su and others.

The case underscores a trend amongst the world’s wealthiest collectors, with rare dinosaur skeletons and bones now fetching prices that rival and surpass those paid for historical paintings. Recent auction results include the $44.6 million purchase of a stegosaurus skeleton in New York by hedge fund manager Ken Griffin and the high-profile return of a disputed Tyrannosaurus skull by actor Nicolas Cage.

As demand rises for such prehistoric artefacts among global elites, scrutiny on the legitimacy of high-value asset purchases continues to intensify, highlighting the need for strict due diligence across the art and specimen markets.