SINGAPORE: DBS Group Holdings and Bank of Singapore, the private banking arm of OCBC Bank, are creditors to the investment companies linked to the alleged billion-dollar money launderers arrested earlier in August, according to business filings seen by Bloomberg News.
The Straits Times reports one of the accused also tried to cheat Standard Chartered Bank, according to a court hearing in Singapore on Wednesday. Malaysia’s CIMB Bank, Citigroup’s local subsidiary and Deutsche Bank have also been linked to the suspects.
The Straits Times reports DBS registered four charges – generally referring to a form of security interest usually taken by a lender to secure repayment of a loan – on Aug 18, 2021, to Aiqinhai Investment.
The company’s director and sole shareholder, Su Haijin, is among the 10 people indicted in a Singapore court for offences including money laundering and forgery.
Bank of Singapore registered a charge on Jan 7, 2022, for Xinbao Investment Holdings. One of the company’s two directors is Su Baolin, among the people charged.