Update 19 Nov 2024: $3b money laundering case - $1.85b in assets surrendered by 15 suspects on the run
Total amount of assets surrendered in the case is almost $2.8 billion so far with $944 million in assets previously surrendered
Assets worth about $1.85 billion have been surrendered to the state by 15 foreigners who are on the run from the police in Singapore’s largest money laundering case.
This brings the total amount of assets surrendered in the case to almost $2.8 billion so far, with $944 million in assets previously surrendered by 10 money launderers who were jailed and deported. On Nov 18, the police said 15 of the 17 suspects who are on the run have been “dealt with” and have agreed to surrender their assets. They have also been barred from returning to Singapore.
In response to media queries, the police named the 15 as Su Yongcan, Wang Huoqiang, Su Fuxiang, Su Binghai, Wang Bingang, Su Shuiming, Su Shuijun, Ke Wendi, Wang Shuiting, Chen Zhiqiang, Liu Jiarong, Chen Peiyong, Zhao Dongying, Chen Mulin and Hu Chengmei.
Billion-dollar money laundering case: 15 of 17 foreigners who fled Singapore agree to surrender S$1.85b of assets
Police are seen at a house on Third Avenue, along Bukit Timah, where luxury cars linked to a billion-dollar money laundering case were kept
Fifteen of the 17 foreigners who fled Singapore amid the probe in the S$3 billion money laundering case have agreed to surrender about S$1.85 billion (US$1.37 billion) worth of assets to the state, said the Singapore Police Force (SPF) on Monday (Nov 18).
Court orders have been made for the surrender of those assets, which forms 98.6 per cent of the total assets seized from them. The police added the 15 foreigners have been barred from returning to Singapore and their cases had been "dealt with".
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CNA understands that this means the cases against all 15 of them are now effectively closed. Investigations into the other two foreigners are ongoing.
Last of 10 offenders deported to Cambodia
Su Jianfeng, the last of the 10 offenders in Singapore’s S$3 billion money laundering probe, appears in court via Zoom video-call for sentencing on Jun 10, 2024
Su Jianfeng, the last of 10 people convicted in the S$3 billion money laundering case, has been deported to Cambodia. He was deported on Jul 26 and barred from re-entering Singapore, the Immigration and Checkpoints Authority (ICA) said on Sunday (Jul 28) in response to queries from CNA.
“Su is the last of the 10 accused persons arrested on Aug 15, 2023, and convicted and sentenced for money laundering and other offences, to be deported,” added ICA. Su, a 36-year-old Vanuatu national with roots in Fujian, China, was given 17 months’ jail on Jun 10. He was the last of 10 offenders to be sentenced in the multibillion-dollar money laundering probe in Singapore that cast a light on foreign nationals buying up luxury properties in the country. The case, which concluded in June, involved billions of dollars worth of assets such as hard cash, luxury properties, branded goods, cryptocurrency and alcohol.
About S$944 million (US$697 million) in assets seized in relation to the 10 criminals was forfeited to the state. Su’s jail term was the longest of the nine men and one woman prosecuted over the case, where illegal proceeds from Southeast Asian gambling centres aimed at Chinese punters were converted into luxury goods and properties in Singapore’s priciest neighbourhoods.
S$3b money laundering case wraps up with 10 convicted, jailed & deported
Su Wenqiang, Su Haijin, Wang Baosen. Su Baolin, Zhang Ruijin, Vang Shuiming, Chen Qingyuan, Lin Baoying, Wang Dehai, Su Jianfeng
- Su Wenqiang - 1st convicted, sentenced to 13 mths, deported to Cambodia
- Su Haijin - 2nd convicted, sentenced to 14 mths, deported to Cambodia
- Wang Baosen - 3rd convicted, sentenced to 13 mths, deported to Cambodia
- Su Baolin - 4th convicted, sentenced to 14 mths, deported to Cambodia
- Zhang Ruijin - 5th convicted, sentenced to 15 mths, deported to Cambodia
- Vang Shuiming - 6th convicted, sentenced to 13 mths, deported to Japan
- Chen Qingyuan - 7th convicted, sentenced to 15 mths, deported to Cambodia
- Lin Baoying - 8th convicted, sentenced to 15 mths, deported to Cambodia
- Wang Dehai - 9th convicted, sentenced to 16 mths, deported to UK
- Su Jianfeng - 10th convicted, sentenced to longest 17 mths, deported to Cambodia
Ninth convict in $3b money laundering case deported to the UK
Wang Dehai was deported on July 6 after serving about 11 months of his 16-month jail term. FOTO:CHINA POLICE
Wang Dehai, the last of 10 foreigners to plead guilty in the $3 billion money laundering case, has been deported to the UK. He was deported on July 6 after serving about 11 months of his 16-month jail term. The Immigration and Checkpoints Authority (ICA) told The Straits Times on July 8 that Wang, 35, has been barred from re-entering Singapore.
Wang’s deportation means that nine of the 10 convicted in Singapore’s largest money laundering case have left the country. Su Wenqiang and Wang Baosen were the first two convicted men to leave Singapore on May 6. They were deported to Cambodia after serving about 8½ months of their 13-month jail terms.
Su Baolin and Su Haijin were deported to Cambodia on May 25 and 28, respectively, while Vang Shuiming was deported to Japan on June 1. Su Baolin and Su Haijin were each sentenced to 14 months’ jail in April. Vang was sentenced to 13 months and six weeks’ jail in May. The three men each served around 9½ months of their jail terms. Chen Qingyuan, Zhang Ruijin and Lin Baoying were deported to Cambodia on June 15. They were each sentenced to 15 months’ imprisonment and served 10 months of their jail terms. This leaves Su Jianfeng, who was sentenced to 17 months’ jail in June, as the last convict in this case to still be in Singapore.
S$944 million in total forfeited to state as one of Singapore's largest money laundering cases concludes
The probe, which began in 2021 with tip-offs on a group of foreigners using forged documents to launder money in Singapore, led to the simultaneous arrests of nine men and one woman - with origins in China - in moneyed estates around the island in August 2023. In the months following the arrests, billions of dollars worth of assets linked to the offenders and other suspects on the run have been seized - including hard cash, luxury properties, branded goods, cryptocurrency and alcohol.
The offenders all pleaded guilty to various crimes, including money laundering, using forged bank documents and other related offences, such as lying to the Manpower Ministry to obtain work passes to enter Singapore. They were sentenced to between 13 and 17 months' jail. The 10th criminal, 36-year-old Vanuatu national Su Jianfeng, was sentenced to the longest jail term on Monday (Jun 10), bringing the saga to a close. In a statement after the hearing, the Singapore Police Force (SPF) said the value of assets linked to the 10 offenders total more than S$1 billion to date.
10 convicted, 17 on the run; police are after the rest
The police seized and issued with prohibition of disposal orders for $3 billion in cash and assets belonging to the 27 individuals. PHOTOS: SINGAPORE POLICE FORCE
On June 7, Cypriot national Wang Dehai was sentenced to 16 months’ jail over one money laundering charge. He is the last of the 10 foreigners arrested in connection with the case to be convicted.
The authorities are now turning their attention to the 17 individuals who fled the country amid the probe, and others, including Singaporeans, who helped facilitate the nation’s largest money laundering case.
$3b money laundering probe widens: 17 other foreigners linked to bulk of cash, assets seized
The police will maintain the prohibition against disposal and custody of the seized assets until the assets are dealt with by the court at the conclusion of the case. PHOTOS: ST FILE, SINGAPORE POLICE FORCE
The $3 billion in cash and assets seized or issued with prohibition of disposal orders in Singapore’s largest money laundering case belonged to 27 individuals, and not just the 10 hauled to court on various charges.
In response to queries from The Straits Times, the police on June 5 said 17 other individuals are under investigation in relation to the case.
The police added that they will maintain the prohibition against disposal and custody of seized assets until the assets are dealt with by the court at the conclusion of the case.
S$3 billion anti-money laundering bust wraps up with 10th and final individual jailed
The 10 accused are (clockwise from top left) Su Baolin, Su Haijin, Chen Qingyuan, Su Wenqiang, Lin Baoying, Zhang Ruijin, Wang Dehai, Su Jianfeng, Vang Shuiming and Wang Baosen. ST ILLUSTRATIONS: CEL GULAPA
IT WAS a whirlwind anti-money laundering bust involving billions of dollars that took Singapore by storm.
Now, nearly 10 months after an islandwide blitz that involved over 400 officers from various police departments, the 10 foreign nationals who were arrested have been sentenced to jail.
The last of the 10, Su Jianfeng, was on Monday (Jun 10) sentenced to 17 months, backdated to his date of arrest – Aug 15, 2023.
Su Jianfeng sentenced to longest jail term of 17 months, last of 10 to be sent to jail
Vanuatu national Su Jianfeng, who is originally from China, had pleaded guilty on June 6 to money laundering and forgery. PHOTO: FIDU PROPERTIES
Dubai property broker Su Jianfeng has been sentenced to 17 months’ jail, making him the last of the 10 foreigners arrested in an anti-money laundering blitz in August 2023 to be sent to jail.
The 36-year-old Vanuatu national, who is originally from China, had pleaded guilty on June 6 to money laundering and forgery.
Another 12 charges were taken into consideration. They range from forgery and money laundering, to manpower-related offences for hiring a personal chef without a valid work pass.
10th Money launderer Su Jianfeng convicted; sentencing adjourned to Monday
The 36-year-old Vanuatu national pleaded guilty to one count of money laundering under the Corruption, Drug Trafficking and Other Serious Crimes Act and one count of forgery. These charges aside, Su Jianfeng faces three counts of money laundering, seven counts of forgery and two charges under the Employment of Foreign Manpower Act, which were taken into consideration by the judge for sentencing purposes.
After hearing submissions from the prosecution and defence on sentencing and mitigation, District Judge James Lee adjourned the proceedings, and will deliver his sentence on Monday.
9th offender in S$3 billion money laundering case gets 16 months' jail
Wang Dehai pleaded guilty on Jun 7, 2024 in the State Courts
The last of 10 individuals prosecuted in the S$3 billion (US$2.2 billion) money laundering case pleaded guilty in court on Friday (Jun 7) and was handed the longest jail term so far at 16 months.
Wang Dehai, 35, faced six charges, two of which are related to money laundering, while the rest are employment offences. The Cypriot was nabbed with nine other foreigners during simultaneous raids islandwide in 2023.
On Aug 15, 2023, Wang had S$2,299,950 in cash that was suspected to be benefits from remote gambling offences. He failed to account for how he came by the money. He pleaded guilty to this charge, while the rest were taken into consideration for his sentencing.
Three more men in $3 billion money laundering case deported to Cambodia, Japan
(From left) Su Baolin, Su Haijin and Vang Shuiming were deported from Singapore on May 25, May 28 and June 1 respectively. PHOTOS: COURT DOCUMENTS
Three more men convicted in Singapore’s largest money laundering case have been deported, said the Immigration and Checkpoints Authority (ICA) on June 2. Cambodian national Su Baolin, 42, and Cypriot national Su Haijin, 41, were deported to Cambodia on May 25 and 28, respectively. Turkish national Vang Shuiming, 43, was deported to Japan on June 1.
According to court documents, Vang holds passports from China, Vanuatu and Turkey. ICA had said in April that the “location of deportation (of the convicts) is dependent on the admissibility of the foreigner based on his or her valid passport”.
All three men, who are originally from Fujian, China, are barred from re-entering Singapore. So far, five of the eight convicted money launderers in the case have been deported.
Woman, the 8th suspect to be dealt with, gets 15 months' jail, forfeits S$154 million in seized assets
Lin Baoying, the only woman among the 10 people charged, was the eighth suspect to be dealt with in the case
Lin Baoying, the only woman among 10 suspects in Singapore's multibillion-dollar money laundering crackdown, was sentenced to 15 months in jail on Thursday (May 30).
The 44-year-old Chinese national pleaded guilty to three out of 10 charges, with the remainder considered for sentencing. She was convicted on one count of money laundering and two counts of fraudulently using a forged document.
Lin was the eighth suspect to be dealt with in the case. The 10 individuals were arrested during a simultaneous raid on Aug 15, 2023.
7th man jailed for 15 months, forfeiting $21.3m of assets to state
Over $23 million worth of assets were seized from Cambodian national Chen Qingyuan. PHOTO: COURT DOCUMENTS
He is the first of the seven foreigners convicted so far to appear in court in person. The other six had attended court proceedings via video link. Chen faced 10 charges in total, including four money laundering charges. The other six charges were forgery-related. Of the over $23 million in assets seized from Chen after his arrest on Aug 15, 2023, about 90 per cent – or $21.3 million – will be forfeited to the state.
Nine other foreigners were arrested that day when the police conducted simultaneous raids islandwide in a money laundering probe that saw more than $3 billion in assets seized.
Sixth suspect jailed, forfeits largest sum yet of S$180 million
Vang Shuiming faced a total of 22 charges in Singapore's multibillion-dollar money laundering case. (Illustration: Rafa Estrada)
The suspect with the highest number of charges in Singapore's multibillion-dollar money laundering crackdown was sentenced to 13 months and six weeks' jail on Tuesday (May 14). Vang Shuiming, 43, faced a total of 22 charges. He pleaded guilty to three of them, and the remainder were considered for sentencing.
His offences involved the possession of about S$2.4 million (US$1.8 million) in suspected criminal proceeds, and the use of documents he had reason to believe were forged. He also voluntarily forfeited about S$180 million in assets to the state. This is the largest amount that any accused person in the money laundering case has forfeited so far.
It came out of more than S$198 million in assets seized from him, including assets that he paid for but were held in the name of his wife, Wang Ruiyan. These included 10 apartments in Clarke Quay and one at Tomlinson Road that are under construction, and four apartments in the Beach Road area. Other items included a S$240,000 Kawai grand piano, a green Rolls-Royce Phantom worth S$1.8 million and a white Bentley Flying Spur worth S$1.3 million. More than S$137,000 in donations were also surrendered and held in police custody.
Police have incurred $646k so far to maintain assets seized in $3b money laundering case
The expenses were incurred for the storage, maintenance and safeguarding of the seized assets. PHOTOS: SINGAPORE POLICE FORCE
Almost $650,000 has been spent by the authorities for the upkeep of assets seized in relation to Singapore’s largest money laundering case.
On May 7, Minister for Home Affairs K. Shanmugam said the expenses were incurred for the storage, maintenance and safeguarding of the seized assets, which included properties, vehicles and luxury goods such as branded bags, watches and alcohol. He said expenses included engaging specialised services from industry partners or service providers to oversee the handling, upkeep and value preservation of the assets.
He said: “As of March 2024, police have incurred about $646,282 in such expenses. These expenses are borne by the state. They are covered by the forfeited cash, and the proceeds of sale of the forfeited non-cash assets, which are channelled to the state.”
Two men convicted in $3b money laundering case deported to Cambodia
Su Wenqiang (left) & Wang Baosen, both 32, will be barred from re-entering Singapore. FOTO: CHINA POLICE, ST FILE
Su Wenqiang and Wang Baosen, both 32, will be barred from re-entering Singapore, an Immigration and Checkpoints Authority (ICA) spokesman said on May 6. They are among 10 foreigners arrested in a money laundering probe in August 2023 that saw more than $3 billion in cash and assets seized.
ICA had said in April that the “location of deportation (of the convicts) is dependent on the admissibility of the foreigner based on his or her valid passport”.
related:
15 months' jail for fifth person, longest jail term so far
An illustration of Zhang Ruijin, a suspect in the billion-dollar money laundering case in Spore. Image:Jeremy Long/Lydia Lam
A 45-year-old man linked to Singapore’s largest money laundering case was sentenced to 15 months' jail on Tuesday (Apr 30).
Zhang Ruijin was also ordered to forfeit around S$118 million of his assets to the state. This amounts to about 90 per cent of the S$131 million worth of assets originally seized by the police.
He is the fifth of 10 accused persons to be dealt with in relation to the case. Zhang pleaded guilty on Tuesday to two counts of forgery-related offences and one of failing to satisfactorily account for property reasonably suspected to be benefits from criminal conduct. Another five similar charges were taken into consideration for his sentencing.
Fourth man in $3b money-laundering case sentenced to 14 months' jail
On April 29, Su Baolin was sentenced to 14 months' jail after pleading guilty to three charges.
PHOTO: The Straits Times file
Su Baolin, one of the 10 foreigners in Singapore's largest money-laundering case, made millions from his role in illegal online gambling operations abroad, said prosecutors.
He got the money into Singapore by funnelling it through his accomplices and cryptocurrency platforms to make it hard for the authorities to detect his crimes. And when the police found a large sum of money in his bungalow, he lied that he had won the money by gambling in casinos.
On April 29, Su was sentenced to 14 months' jail after pleading guilty to three charges — two for money laundering and one for abetting false representations made to the Inland Revenue Authority of Singapore (Iras).
Third accused convicted, sentenced to 13 months’ jail
With one-third remission, Wang Baosen may be out by early May. ST ILLUSTRATION: CEL GULAPA
Baosen pleaded guilty on April 16 to two charges. Six other charges were taken into consideration. He admitted to using over $1.4 million from a company, Hornet Bee International Trading, to pay for 10 per cent of the purchase price of an upscale condominium unit in Orchard Road. Baosen also admitted to possessing nearly $600,000 in an HSBC bank account in Singapore, with the monies suspected to be proceeds from illicit gambling offences.
Of the 10 foreigners involved in this money laundering case, three have been convicted and sentenced:
- On April 2, Cambodian national Su Wenqiang, 32, who had 11 charges in total, was sentenced to 13 months’ jail after pleading guilty to two counts of money laundering. He was the first in the group to plead guilty.
- On April 4, Cypriot national Su Haijin, 41, was sentenced to 14 months’ jail after pleading guilty to one count of resisting arrest and two money laundering charges.
- On April 16, Chinese national Wang Baosen, 32, was sentenced to 13 months’ jail after he pleaded guilty to two charges of money laundering.
- Cambodian national Su Baolin, 42, who faces 13 charges, is expected to plead guilty on April 29.
- Meanwhile, Vang Shuiming, 43, who is listed as a Turkish national in court documents, is set to plead guilty on May 14. He faces 22 charges in total.
First two men convicted in billion-dollar money laundering case to be deported
Su Wenqiang and Su Haijin are the first two to be convicted in Singapore's largest money laundering case. (Illustrations: TODAY/Nurjannah Suhaimi, CNA/Lydia Lam)
The first two men convicted in Singapore’s largest money laundering case will be deported after their jail terms, said the Immigration and Checkpoints Authority (ICA) on Thursday (Apr 4).
The first man, Su Wenqiang, 32, was sentenced to 13 months' jail on Tuesday after admitting to 11 charges of money laundering, possessing proceeds from illegal remote gambling offences and lying to get work passes for himself and his wife.
The second man, Su Haijin was sentenced to 14 months' jail on Thursday. He pleaded guilty to three of 14 charges. These were for resisting lawful arrest and possessing around S$1.4 million (US$1.03 million) in criminal proceeds through a shell company. The remaining charges, including money laundering, were taken into consideration for sentencing.
Man who jumped from bungalow balcony during raid, 2nd to be sentenced, gets 14 months’ jail
Su Haijin is the second of 10 foreigners linked to Singapore’s largest money laundering case to be convicted. PHOTOS: WEC
On April 4, the 41-year-old, who faced a total of 14 charges, was sentenced to 14 months’ jail.
Su is the second of 10 foreigners linked to Singapore’s largest money laundering case to be convicted and sentenced. More than $3 billion in cash and assets have been seized so far in relation to the case.
Su Wenqiang, accused in $3b money laundering case, 1st to be sentenced to 13 months’ jail
Su Wenqiang pleaded guilty to two money laundering charges. PHOTO: CHINA POLICE
Cambodian national Su Wenqiang was sentenced to 13 months in jail after he pleaded guilty on April 2 to money laundering.
The 32-year-old is the first of 10 foreign nationals to be convicted over a probe, led by the Commercial Affairs Department (CAD), that saw more than $3 billion in cash and assets seized.
The prosecution sought 12 to 15 months in jail for Su, noting his early plea of guilt and his willingness to forfeit his assets worth over $5.9 million to the state.
Singapore convicts first suspect in record money laundering case
A Porsche 911 Targa vehicle seized by police at a residence of Su Jiafeng, one of the suspects in the S$2.8 billion money-laundering case, in Singapore, on Wednesday, Oct. 25, 2023. Allegations have erupted that wealthy Chinese have been pouring ill-gotten gains into the Asian financial hub, in what the government itself describes as potentially one of the world’s largest money-laundering cases
Singapore on Tuesday sentenced the first person to plead guilty in the Southeast Asia island-state’s biggest money laundering scandal to a 13-month imprisonment. Cambodian national Su Wenqiang had faced 11 charges relating to forgery and laundering criminal proceeds. Public prosecutors went ahead with two counts of money laundering after an agreement to consider the remaining nine charges for sentencing.
The Singapore police said it has seized around 6 million Singapore dollars ($4.44 million) worth of assets from Su. According to court documents emailed to CNBC, this includes more than 2 million Singapore dollars in a bank account with United Overseas Bank, a Mercedes Benz, Chinese Moutai liquor and jewelry from Tiffany’s and Dior. Su was charged for laundering income from his part in abetting the operation of an illegal offshore remote gambling service out of the Philippines, which catered to mainland Chinese clients, according to court documents.
Su, 32, was arrested in August last year along with nine others of Chinese origin, in a case that has stunned many and raised doubts over Singapore’s reputation as a financial hub. Two suspects are still on the run. The value of all assets seized to date now exceeds more than 3 billion Singapore dollars, according to court documents.
Singapore hands down first conviction in $2.2 billion money laundering case
A defendant in Singapore's biggest-ever money laundering case was sentenced to 13 months in prison on Tuesday, the first conviction for an investigation that grabbed headlines after billions in luxury properties, cars and gold bars were seized. Defendant Su Wenqiang, a Cambodian national, was sentenced to 13 months imprisonment for two counts of money laundering, Singapore police said in a statement.
Su had pleaded guilty in a Singapore district court to 11 charges that also included taking proceeds from illegal remote gambling and lying to get work passes for himself and his wife, Channel NewsAsia reported. "Investigations revealed that Su Wenqiang was involved in an unlawful remote gambling business based in the Philippines, which offered its remote gambling services to persons overseas," the police statement said. Reuters was unable to reach Su's lawyer for comment.
Su, who holds passports from Cambodia, Vanuatu and China, is one of 10 foreigners, opens new tab who were arrested in Singapore in August last year in simultaneous raids. The court cases against the other defendants are ongoing. More than $2.2 billion of assets were seized or frozen in the probe. Around S$6 million ($4.4 million) from Su was seized, including cash, two vehicles, jewellery, luxury items and alcohol, the police said.
Singapore jails Fujian native in US$2.2 billion money laundering case’s first conviction
Su Wenqiang was sentenced to 13 months in jail on Tuesday, to be backdated to his arrest in August. Photo: bilibili
A Singapore court on Tuesday convicted the first defendant in its biggest-ever money laundering case, in one of the city state’s highest-profile crime probes over which more than S$3 billion (US$2.2 billion) of assets has been seized or frozen. Su Wenqiang, 32, pleaded guilty during a court hearing on Tuesday. He was sentenced to 13 months in jail, to be backdated to his arrest in August.
Su faced 11 charges including for forgery and laundering criminal proceeds through activities like buying multiple bottles of prized liquor and paying S$48,000 (US$35,860) a month to rent a luxury condominium near the city state’s Orchard Road shopping belt. The prosecution proceeded with two charges. A strong message needed to be sent that money laundering is a serious offence and affects Singapore’s reputation as a financial hub, the prosecution told Su through an interpreter. Lawyers for Su had asked for a reduced sentence, arguing that the victims for the illegal acts were not in Singapore.
Su’s sentencing will mark the next chapter in a scandal that has ensnared the world’s largest banks and raised questions about the financial hub’s safeguards against illicit money flows. More developments are in store this week with at least one other suspect in remand also planning to plead guilty, according to a scheduled court hearing. Su was born in China’s Fujian province and holds multiple passports including those from Cambodia and Vanuatu. One of 10 foreigners holding multiple citizenships who were arrested in Singapore in August last year in simultaneous raids, he was accused of seeking to launder proceeds from an illegal remote gambling service in the Philippines targeting people in China.
Man who jumped from bungalow balcony during raid gets 14 months’ jail
Su Haijin is the second of 10 foreigners linked to Singapore’s largest money laundering case to be convicted. FOTOS: WECHAT, ST FILE
Cypriot national Su Haijin, who jumped from the second-floor balcony of a good class bungalow (GCB) during a police raid, has been convicted of resisting arrest and money laundering. On April 4, the 41-year-old, who faced a total of 14 charges, was sentenced to 14 months’ jail.
Su is the second of 10 foreigners linked to Singapore’s largest money laundering case to be convicted and sentenced. More than $3 billion in cash and assets have been seized so far in relation to the case. He admitted to one charge of resisting arrest and two money laundering charges. The latter involved Su possessing over $1.4 million, suspected to be criminal benefits, in Yihao Cyber Technologies’ DBS and UOB accounts.
Su is a director and sole shareholder of Yihao, which was incorporated in 2017. Another 11 charges were taken into consideration for his sentencing. The prosecution, which sought 12 to 15 months’ jail for Su, said he will forfeit more than $165 million, or around 90 per cent of his assets, to the state.
Third accused in billion-dollar laundering case set to plead guilty
A THIRD individual accused in the billion-dollar money laundering case is set to plead guilty, court records on Thursday (Mar 28) showed.
Wang Baosen, who is facing two money laundering charges in Singapore relating to money from illegal remote gambling, is slated to admit his guilt at a mention on Apr 16. The 32-year-old has been in remand since being charged last August. He was arrested at a condominium in Tomlinson Road in the Orchard area. According to one of the charges, he took possession of a black Toyota Alphard Hybrid Elegance in 2022, which allegedly represents his benefits from criminal conduct.
Assets worth more than S$18 million have been seized or subjected to prohibition of disposal orders, including more than S$3.3 million in four bank accounts and one property worth S$14.8 million. The Chinese national’s court session comes after similar proceedings have been scheduled for Su Wenqiang on Apr 2 and for Su Haijin on Apr 4 to plead guilty.
$3b money laundering accused gets 6 new charges for submitting forged statements to Swiss bank
A High Court judge in October 2023 refused bail for Vang, saying there was a risk of Vang absconding as he had obtained passports from Turkey, Vanuatu and Cambodia. PHOTOS: CEL GULAPA, SINGAPORE POLICE FORCE
Vang Shuiming, one of the 10 accused in Singapore’s largest money laundering case, was handed six more charges on March 27.
Vang, 42, also known as Wang Shuiming, allegedly submitted forged financial statements from two companies – Xiamen Yetian Trading and Xiamen Likanghang Trading – to Bank Julius Baer & Co’s Singapore branch on July 19, 2022, as supporting documentation. Bank Julius Baer & Co is a Swiss private bank that offers financing, investment advisory, custodial and wealth management services. The financial statements mentioned in the new charges were from 2017 to 2019. Vang now faces 22 charges in total – the most among the 10 accused.
Vang, who is listed as a Turkish national in his charge sheets, was among 10 foreigners arrested on Aug 15, 2023, in islandwide raids on luxury homes across Singapore, including in Tanglin, Bukit Timah, Orchard Road, Sentosa and River Valley. The assets seized in the case are now worth more than $3 billion.
Who are the 10 charged after the billion-dollar anti-money laundering raid in Singapore?
The 10 accused are (clockwise from top left) Su Baolin, Su Haijin, Chen Qingyuan, Su Wenqiang, Lin Baoying, Zhang Ruijin, Wang Dehai, Su Jianfeng, Vang Shuiming and Wang Baosen. ST ILLUSTRATIONS: CEL GULAPA
- Su Baolin - The 41-year-old Su Baolin, who holds a Cambodian passport, is a shareholder of construction firm Sentosa Project. He was arrested on Tuesday when police raided a GCB in Nassim Road where he lived. He was charged on Wednesday with using a forged document to cheat Citibank.
- Su Haijin - Cypriot national Su, 41, was initially set to plead guilty this week on Thursday. Both prosecution and defence confirmed that his plea will go ahead as planned. He initially faced two charges of resisting arrest on Aug 15, 2023, and possessing about S$4.06 million in benefits from illegal remote gambling offences in a UOB account around August 2023.
- Chen Qingyuan - The Cambodian national, 33, was arrested at a condominium in Leonie Hill Road in the River Valley area. He was charged with money laundering. Chen, who was found in possession of foreign passports believed to be issued by China and Dominica, is a director of HiCloud Technology, a business that offers cloud solutions and services.
- Su Wenqiang - The 31-year-old Cambodian national was arrested at a GCB in Lewis Road in Bukit Timah. He was found with a foreign passport believed to be issued by China. The police seized items including cash of more than $600,000 and 11 pieces of jewellery.
- Lin Baoying - Lin, 43, the only female, has a passport issued by Dominica. Lin is a shareholder of Ban Tian Yao Catering Management and Eagle77, which also offers management consultancy services. Lin, 43, has a passport issued by Dominica. Lin also holds a passport from Turkey.
- Zhang Ruijin - A Chinese nationals, were arrested at a bungalow at Pearl Island in Sentosa Cove. Zhang also holds a passport believed to be from Saint Kitts and Nevis, an island country in the Caribbean. Zhang, 44, is a director of Golden Eagle Family Office, which offers management consultancy services.
- Wang Dehai - Wang Dehai, a 34-year-old man listed as a Cypriot in charge sheets, faces two charges in Singapore. The first is for using criminal proceeds from a remote gambling service based in the Philippines but aimed at China users by buying a unit in The Marq at 8 Paterson Hill in November 2019. The second is for possessing S$2.3 million in Singapore in August this year which represents what he earned from the illegal remote gambling offences. Wang, who has passports from four countries, has been remanded since Aug 16, for more than two months. He is one of 10 people accused in a S$2.8 billion money laundering probe.
- Su Jianfeng - Su Jianfeng, 35, a Vanuatu national, was handed a money-laundering charge after he was arrested in a GCB in Third Avenue in Bukit Timah. About $1.4 million in cash and 18 devices were seized from him. Su is a shareholder of a wholesale and distribution company called Ricco. The 35-year-old, who was slapped with a money-laundering charge, was arrested at a GCB in Third Avenue in Bukit Timah. The Vanuatu national has a foreign passport believed to be issued by China.
- Vang Shuiming - Vang, who is also known as Wang Shuiming, is the director and shareholder of Zhuo Chi Technology. An Acra search showed that he was also the shareholder of Ming Xin (Singapore) Technologly, which was struck off in 2021. Vang, a Turkish national who has passports from Vanuatu and China, was arrested on Tuesday at 7B Bishopsgate, which is in the Tanglin area.
- Wang Baosen - Chinese national Wang Baosen, 31, faces a money-laundering charge. Prohibition disposal orders were issued for a property, and a vehicle under his wife’s name and $100,000 in cash were seized.
Singapore 2.8 billion$ money laundering probe
The assets seized in Singapore’s largest money laundering case that saw 10 foreigners arrested are now worth more than $3 billion. Warrants of arrest and Interpol Red Notices have been issued against two more suspects, Su Yongcan and Wang Huoqiang.
The police said on Jan 19 that they have issued prohibition of disposal orders on another 55 properties and 15 vehicles. An additional 189 luxury bags, 34 pieces of jewellery and five luxury watches were also seized. This now brings the assets confiscated by the authorities to 207 properties, 77 vehicles, more than $1.45 billion in bank accounts, and more than $76 million in cash of various currencies. Thousands of bottles of liquor and wine, cryptocurrency worth more than $38 million, 68 gold bars, 483 luxury bags, 169 branded watches and 580 pieces of jewellery have also been seized in total.
Separately, warrants of arrest and Interpol Red Notices have been issued against two more suspects – Cambodian nationals Su Yongcan, 33, and Wang Huoqiang, 29 – for money laundering offences. A Red Notice is a request to law enforcement worldwide to locate and provisionally arrest a person pending extradition, surrender, or similar legal action. The police said the pair had left Singapore before arrests related to the case began on Aug 15, 2023.
