| Date | 15 August 2023 (raids) |
|---|---|
| Location | Singapore |
| Type | Money laundering scheme |
| Accused | 10 |
| Convicted | 10 |
On 15 August 2023, the Singapore Police Force conducted an operation against money laundering. [1] It is the biggest money laundering case in Singapore, and among the biggest in the world, [2] involving assets worth 3 billion Singapore dollars. [3]
Initially, only 1 billion Singapore dollars worth of assets was either seized, frozen or issued prohibition of disposal orders although the value of assets involved would later balloon to 3 billion Singapore dollars. [2] [3] Ten foreigners were arrested and charged for money laundering related crimes, all of whom were Chinese Nationals from Fujian who are also holders of various non-Chinese passports. [1] [4] Another 17 people are also currently on the run and are wanted by the Singaporean authorities for their alleged involvement in this case. [5]
This case has been linked to unlicensed money lending in China, scams, and remote online gambling operations in the Philippines, which also saw a mayor in the Philippines being temporarily stripped of authority. [6] [7] [8]
Authorities were first alerted to the scheme as early as 2021.
On 6 May 2024, both Wang Baosen and Su Wenqiang were released from prison on parole for good behaviour, and deported from Singapore. [27] The two men were deported to Cambodia given that they carried Cambodian passports, but Su faced the possibility of deportation to China, where he had been on the wanted list since 2017 for illegal online gambling. [28]
On 1 June 2024, Vang Shuiming was deported to Japan after he was given parole and released from jail. Su Haijin and Su Baolin were both similarly deported on the same date, but to Cambodia. [29]
On 16 June 2024, three days after the sentencing of Su Jianfeng, ICA revealed that after completing their jail terms and receiving parole, three of the convicted money launderers - Zhang Ruijin, Chen Qingyuan and Lin Baoying - had been deported to Cambodia the day before on 15 June, and they had been barred from re-entering Singapore. [30]
On 6 July 2024, Wang Dehai served 11 months out of his 16-month prison sentence before he was released on parole, and was deported to the United Kingdom. [31]
On 16 July 2024, Zhang Ruijin was deported from Cambodia. He had been deported to Cambodia after serving his jail sentence in Singapore. [9] [32]
On 26 July 2024, after his release on parole for good behaviour, Su Jianfeng was deported to Cambodia, therefore becoming the last of the 10 convicted to be deported and be barred from re-entering Singapore. [33]
Citing Securities and Exchange Commission records, Hontiveros pointed out the background of two incorporators in Guo's company. One is Chinese national Zhang Ruijin, who was convicted in April for money laundering in Singapore; while the other is Dominican national Baoying Lin, who is also facing charges.
On Wednesday (25 October), the police said they seized items issued with prohibition of disposal orders relating to the money laundering case at two locations. Four cars and 56 Bearbrick ornaments were confiscated.
Two former bank employees will be charged in court on Aug 15 over money laundering and forgery offences, one year after 400 police officers raided multiple luxury homes in the biggest money laundering probe in Singapore. In a statement on Aug 14, police said a Singaporean man will also be taken to court. The 41-year-old was the personal driver to businessman Su Binghai, who fled amid the probe and is currently wanted for his involvement in alleged money laundering offences.
On the first anniversary of the arrests of 10 foreigners in Singapore's largest money laundering case, the first Singaporean linked to the crimes was hauled to court.
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.
Zhang (Ruijin) was subsequently deported from Cambodia on July 16, according to Cambodia's General Department of Immigration. Phnom Penh did not specify which country he was sent to.