Guilty Pleas and Ongoing Investigations
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
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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
Legal Ramifications and Additional Charges
Ongoing Remand and Legal Representation
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.
