Amidst an ongoing money laundering investigation, the remand of nine individuals has further deepened the legal scrutiny surrounding a cohort of ten suspects. This intricate case, marked by the seizure or freezing of over S$1 billion in assets, has taken an intensified turn as fresh charges emerged yesterday.
The allegations centred around the possession of substantial sums in cash, cryptocurrency, and a fleet of automobiles, all suspected to be derived from the profits of illicit online gambling activities.
Who are these Accused and what are their Allegations?
Significant headway in the ongoing investigation has come to light, affirmed Deputy Public Prosecutor (DPP) Ng Jean Ting. At the epicentre of this development stands Chen Qingyuan, a 33-year-old Cambodian national.
Three additional charges have been levied against Chen, expanding his tally to four. The recently added charges specifically pertain to the possession of assets representing the gains derived from criminal activities.
The newly presented charges assert that his holdings stem from illegal online gambling activities. These acquisitions encompass a white Land Rover, a Range Rover, an excess of S$6 million ensconced within Citibank Singapore bank accounts, and 170,284.9808 in Tether — an entity presently valued at approximately US$170,260 (close to S$230,000) as of the time of writing.
Evidencing the gravity of this situation, more than S$20 million in assets have been subjected to seizure in relation to Chen's case. Remarkably, the recent extension of his remand has precipitated the addition of three fresh charges, each bearing the imprint of money laundering.
Ultimately, the judge made the pivotal decision to deny bail and enforce another eight days of remand, in alignment with the prosecution's plea.
Next up, Su Wenqiang, a 31-year-old Cambodian national, has encountered a fresh charge that now constitutes his second. This addition pertains to his alleged acquisition of a Mercedes Benz AMG C63S around 28 January 2022. The transaction, totalling S$500,000, reportedly involved funds derived from an illicit remote gambling service situated in the Philippines, catering to users in China.
The prosecution alleges that Su's wealth exhibits conspicuous patterns of financial irregularities, potentially amounting to S$2.6 million in Singaporean assets, including S$2 million harboured in local bank accounts. The intricate dance of financial provenance intensifies as the Commercial Affairs Department (CAD) engages in diligent fund tracing to unravel the veiled origins of Su's wealth.
Su's financial tapestry interlaces with assets abroad, exemplified by a foreign property of approximately S$2 million, registered under his wife's name.
The prosecution, represented by DPP Gan Ee Kiat, posits that this is fundamentally a money-laundering charge. It is underscored that the predicate offense for money laundering can span Singaporean and international domains, as long as it satisfies the stipulations enshrined in the Corruption, Drug Trafficking, and Other Serious Crimes (Confiscation of Benefits) Act (CDSA). In this context, remand is sought, with the explicit intent of aiding CAD in their formidable task of disentangling this intricate financial web.
For Su Baolin, a 41-year-old Cambodian national, he finds himself confronted with a second charge — this time for utilising a counterfeit document as authentic. The new charge outlines that he purportedly submitted a "Borrowing Agreement" to Standard Chartered Bank in December 2020, a document claimed to be executed between himself and an individual named Se Liang.
DPP Ng Jean Ting elucidates the substantial magnitude of this case, with seized properties exceeding S$130 million from Baolin and his wife.
The lawyer delves into the timeline of events, emphasising that the initial charge stemmed from an incident purportedly occurring in 2021, and investigations had commenced even earlier. This temporal context fuels Sudheesan's contention that if the investigations for the second charge had begun before 2022, sufficient time should have elapsed for the prosecution to amass evidence from financial institutions.
As the legal proceedings continue, Wang Baosen, a 31-year-old Chinese national, finds himself confronted with a singular charge — one that alleges his possession of a black Toyota Alphard Hybrid Elegance acquired through illegal remote gambling activities along with a backdrop of two money laundering charges already filed against him.
Guided by legal representation from Adrian Wee of Lighthouse Law, Baosen engages in his defense by asserting that he acquired funds from a relative to purchase the car, during his mandatory 10-day quarantine period in Singapore due to COVID-19 protocols.
In the realm of financial dimensions, DPP Gan Ee Kiat underscores the substantial financial underpinnings under Baosen's purview, confined solely to Singapore. A purported S$18 million, comprising S$3 million nestled within Singaporean bank accounts, illustrates the scale of the financial backdrop.
DPP Gan alludes to novel leads being pursued by the CAD, the outcome of which could potentially culminate in the arrest of new suspects. While the specifics of these new dimensions remain veiled, he refrains from delving into further detail to preserve the integrity of ongoing investigations.
Lin Baoying, a 43-year-old Chinese national and the lone female protagonist in this legal narrative, finds herself entangled in a web of two fresh charges. The first charge alleges her involvement in fabricating a false document with the intent of perpetrating fraud, while the second accusation pertains to her alleged manipulation of the course of justice.
The prosecution introduces a staggering dimension — the seizure of approximately S$200 million worth of assets from Lin — making her one of the most substantial assets in this context of the ten accused individuals.
In alignment with her co-accused counterparts, Lin is met with a continuation of remand — eight additional days.
Su Haijin — a 40-year-old Cypriot — stands apart as the sole accused to evade new charges. Strikingly, this former director of No Signboard Holdings, a restaurant operator, remains conspicuously distinct from the cohort in this evolving narrative.
Echoing the recurrent plea, the prosecution contends for an additional eight days of remand — citing the necessity for in-depth investigations that navigate the labyrinthine dimensions of this case. The seizure of approximately S$160 million in assets from Haijin and his wife forms a financial undercurrent that amplifies the intrigue.
Standing as a legal sentinel is Haijin's counsel, who defers the matter of bail to the court's discretion. Amidst the legal manoeuvring, a steadfast assertion echoes — Haijin is devoid of new charges. In a bid to illuminate the financial backdrop, it is revealed that around S$2.1 million along with five vehicles have been seized from him.
Wang Dehai, a 34-year-old Cypriot national, faces a fresh charge — one that hinges on utilising the proceeds from an illegal online gambling service, catering to customers in China, to acquire a condominium unit at The Marq for an eye-popping S$23 million in November 2019.
The prosecution underscores Dehai's formidable financial stance, marked by at least S$43 million worth of assets residing in Singapore.
DPP Gan delves further into Dehai's global footprint, unveiling a panorama of "considerable wealth" spanning overseas. The assortment includes multiple properties valued at approximately S$4 million, boasting substantial rental income streams.
This tale is augmented with the revelation of numerous bank accounts across international domains, collectively harbouring approximately S$9.68 million. A rich mosaic of foreign company shares, valued at S$3.4 million, punctuates the narrative, underscoring the diversified nature of his wealth.
Su Jianfeng, a 35-year-old individual hailing from Ni-Vanuatu, finds himself marked by the addition of three new charges. These charges revolve around the possession of criminal proceeds stemming from the realm of illegal remote gambling. These illicit gains are purported to have taken the form of cash, to the tune of a staggering S$17 million, discovered within three distinct safe deposit boxes.
A mosaic of financial assets, surpassing S$160 million, stands as a testament to the scale of the financial backdrop within which Jianfeng is embroiled and he has been remanded for an additional eight days.
Zhang Ruijin, a 44-year-old Chinese national who bears the mantle of being the boyfriend of co-accused Lin Baoying, emerges into sharper focus with the addition of two fresh charges. This legal development echoes around the realm of forgery. Notably, these charges pivot around forged documents, designed with a dubious intent to deceive CIMB Bank.
A mosaic of financial intrigue takes centre stage as the prosecutor reveals the seizure of property valued at more than S$80 million.
Zhang is also remanded for an additional eight days.
Lastly, Vang Shuiming — a 42-year-old Turk — emerges as a central figure. A pivotal turn unfurls as he faces the addition of four new charges to his original indictment, a canvas that now extends beyond the realm of using a forged document. The new allegations pivot around the possession of ill-gotten gains — an enigmatic amalgamation of financial webs tied to unlicensed moneylending endeavours in China.
A crescendo of financial intrigue unfolds with the revelation of more than S$200 million seized from Vang.
As the legal proceedings ebb and flow, the gavel falls once again, decreeing that Vang's legal journey within the confines of remand persists for another eight days.
All ten individuals embroiled in this drama will need to brace for their collective return to the legal stage next week.
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