Intrigue Surrounds Singapore's Billion Dollar Money Laundering Case: 10 Suspects' Profiles Unveiled

In a shocking turn of events, Singaporean authorities have uncovered a complex web of money laundering amounting to S$2.8 billion. This case is popularly known as the Billion Dollar Money Laundering Scheme of Singapore.

The latest development involves Su Baolin, a 42-year-old Cambodian listed in court documents, who is set to plead guilty next Monday. This case sheds light on the intricate schemes employed by individuals to conceal illicit funds.

Guilty Pleas and Ongoing Investigations

Su Baolin’s impending guilty plea follows the convictions of three other suspects earlier this month. Three additional charges were read to Su, including possession of S$777,220.50 in cash suspected to be from criminal conduct, involvement in unlawful remote gambling operations, and the purchase of a S$332,281.26 vehicle using proceeds from criminal activities. These charges highlight the diverse nature of illicit financial activities Su is accused of participating.

Su Baolin, one of the 10 accused in Singapore’s Billion Dollar money laundering case, was handed three more charges on April 24, five days before he is set to plead guilty on April 29. Su, 42, who is originally from China and holds a Cambodian passport, now faces 13 charges in total.

The 10 Accused of Billion Dollar Laundering Scheme

The arrest of 10 foreigners in Singapore in a billion dollar money laundering blitz has thrown the spotlight on their alleged links to business interests in Singapore and overseas, and the number of jurisdictions where some of them hold citizenship. All of these 10 are related either by birth or marriage to one another, and all of them were originally from Fujian in eastern China.

Su Baolin

Su Baolin, a 41-year-old Cambodian passport holder, is a shareholder of construction firm Sentosa Project. He was arrested during a police raid at his residence on Nassim Road, where he lived. Su faces charges of using a forged document to cheat Citibank and has been found to be a director and shareholder of Sg-Gree, an electrical appliance company. Additionally, Su holds shares in two investment companies. Police seized cash exceeding $777,000, along with luxury bags, watches, and jewellery from his residence.

Su Hajin

Su Haijin, a Cypriot national, had moved into the GCB near Holland Road in 2021, where the monthly rent was about $80,000 at the time, said a source close to the family.

Zhang Ruijin and Lin Baoying

Zhang Ruijin and Lin Baoying, a Chinese couple, were arrested at a bungalow in Sentosa Cove. Zhang, a director of Golden Eagle Family Office, and Lin, a shareholder of Ban Tian Yao Catering Management and Eagle77, were found in possession of passports from Saint Kitts and Nevis, the Dominican Republic, and Turkey. Zhang was charged with forging a document to cheat CIMB Bank, while police seized over $7.6 million in cash from their residence.

Su Jianfeng

Su Jianfeng, a 35-year-old shareholder of Ricco, a wholesale and distribution company, was arrested at a GCB in Bukit Timah. The Vanuatu national, believed to hold a Chinese passport, was charged with money laundering. Police seized over $1.4 million in cash and other currencies, along with luxury items, from his residence.

Chen Qingyuan

Chen Qingyuan, a 33-year-old Cambodian national, was arrested at a condominium in River Valley and charged with money laundering. Found in possession of passports from China and the Dominican Republic, Chen is a director of HiCloud Technology, a business offering cloud solutions and services.

Su Wenqiang

Su Wenqiang, a 31-year-old Cambodian national, was arrested at a GCB in Bukit Timah. Found with a Chinese passport, Su was charged with money laundering. Police seized cash exceeding $600,000 and 11 pieces of jewellery from his possession.

Vang Shuiming

Vang Shuiming, also known as Wang Shuiming, is the director and shareholder of Zhuo Chi Technology. A Turkish national with passports from Vanuatu and China, Vang was arrested at 7B Bishopsgate in the Tanglin area. Police seized items, including cash and jewellery, from his residence.

Wang Baosen

Wang Baosen, who is a Chinese national and has a passport from Vanuatu;Wang Baosen, a 32-year-old Chinese national, pleaded guilty to one charge each of possessing almost S$600,000 in illegal proceeds in his wife’s bank account and for laundering another S$1.48 million to buy a luxury Park Nova apartment in Tomlinson Road.

Wang Dehai

Wang Dehai, a 34-year-old man listed as a Cypriot and holding passports from Vanuatu, Cyprus, Cambodia and China, came to know in 2016 that he was wanted by Chinese authorities.

The Alleged Scheme Unveiled

One of the charges against Su involves making a false statement to the Controller of Work Passes regarding his spouse’s employment. Investigations revealed that Su was a director at SG-Gree, a company purportedly involved in wholesaling household appliances and equipment. However, the company had no intention of employing his spouse in the role mentioned in the false statement.

Legal Ramifications and Additional Charges

Su faces severe penalties, including up to three years’ jail or a fine of up to S$150,000 for each charge related to possessing property suspected of representing benefits from criminal conduct. For making a false statement, Su could be jailed for up to two years or fined up to S$20,000.

Ongoing Remand and Legal Representation

Su has been in remand for over eight months since his arrest in August last year. Despite efforts by his legal team, including lawyers Mr. Sunil Sudheesan, Ms. Diana Ngiam, and Ms. Joyce Khoo from Quahe Woo & Palmer, to secure bail citing his health condition, their applications were denied.

The Billion Dollar Scheme

The case involving Su Baolin underscores the importance of stringent regulatory measures and vigilant oversight in combating money laundering. As investigations continue and more details emerge, it serves as a stark reminder of the lengths individuals may go to launder illicit funds and the necessity for robust regulatory frameworks to counter such criminal activities.

Intrigue Surrounds Singapore’s Billion Dollar Money Laundering Case: 10 Suspects’ Profiles Unveiled

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