SINGAPORE: Three men, aged between 26 and 41, will be charged in court on Thursday (Aug 15) with various offences linked to one of the country’s largest money laundering cases. Two of them are former bank relationship managers who counted convicted criminals Su Baolin, Vang Shuiming and Lin Baoying among their clients – three of … Read more
Su had pleaded guilty to one charge each of possessing S$550,903 in criminal benefits and fraudulently using a property sale contract to explain the source of about S$2 million deposited into his Maybank account. Another 12 charges were taken into consideration for sentencing. About S$187 million worth of assets linked to Su or held under … Read more
Wang, facing six charges, was last month handed a jail term of 16 months. Two charges were related to money laundering and the rest involved employment offences under the Employment of Foreign Manpower Act. For the money laundering charge that was proceeded on, Wang could have been jailed up to three years, or fined up … Read more
SINGAPORE: Foreigners who have been convicted of offences in Singapore and are to be deported can indicate which country they would like to be deported to, said Minister of State for Home Affairs and for Social and Family Development Sun Xueling on Tuesday (Jul 2). But it is not a case of the offenders saying … Read more
THREE LATEST DEPORTATIONS Su Baolin, 42, pleaded guilty to three out of 13 charges and was sentenced to 14 months’ jail in April. Two charges were related to money laundering while the other was for making false representations to the Inland Revenue Authority of Singapore (IRAS). More than S$3 billion in assets were seized or frozen in … Read more
In January, the court heard eight charges against him, including his alleged refusal to sign various statements that he made to the authorities when required to do so by a Commercial Affairs Department officer on three occasions. This was said to have happened in an interview room at the Changi Prison Complex Medical Centre. Su … Read more
Vang and nine others were arrested in August 2023 when Singapore police conducted simultaneous raids on multiple locations across Singapore, including luxury properties. Since then, the total value of assets seized or frozen in relation to the money laundering case has risen to over S$3 billion. More than S$200 million was seized from Vang and … Read more
OTHER CHANGES NEEDED Experts also said having a regulatory limit is not a “watertight” solution and is just one way to strengthen Singapore’s anti-money laundering regime. The recent court cases have thrown up questions about the lack of due diligence among corporate service providers, they said. For example, the Singaporean with 980 directorships only performed … Read more
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