Authorities seized assets price greater than S$2.8 billion ($2.1 billion), including gold bars, jewelry, 62 cars and 152 properties. This number may increase and lots of suspects are still at large.
An enormous money laundering case reveals the dark side of Singapore’s efforts to lure the super-rich
An enormous money laundering case reveals the dark side of Singapore’s efforts to lure the super-rich
Su, 33, is listed as a Cambodian official, but his passport says he’s from Fujian, China.
He was charged in total with 11 charges, including money laundering, possessing proceeds from illegal distant gambling and lying to acquire work passes for himself and his wife.
The charges accuse Su:
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Possession of S$601,706 (US$441,000) that’s at the very least partially derived from crimes related to illegal distant gambling
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Using A$500,000 of illicit proceeds to buy: Mercedes-Benz AMG C63S in January 2022
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Laundering roughly A$477,000 in illicit proceeds from an illegal distant gambling site within the Philippines through the acquisition of luxury handbags, jewelry, alcohol and paying for the rents of luxury homes and apartment buildings
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He lies in his application for a piece pass in February 2022 that he will probably be employed as a sales director by Fleur Business Service
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Conspiracy with one other person to acquire a piece pass for his wife, Su Yanping
He has been in pre-trial detention for over six months since his arrest last August.
A bunch of nine men and one woman, mostly from China, were captured by police in an island-wide manhunt.
‘Wake up call’: Singapore’s $740m laundering case exposes legal loopholes
‘Wake up call’: Singapore’s $740m laundering case exposes legal loopholes
The broader case involves a distant gambling operation based within the Philippines targeting players in China.
Some of the suspects were listed on arrest warrants in China but managed to establish corporations in Singapore, and a few were running alleged shell corporations as early as 2019.
A check of court records shows the remaining nine defendants within the case are still within the pretrial or case management conference stages.
Additional reporting by Bloomberg
