SINGAPORE: The names of several foreign nationals arrested in connection to the largest money laundering case in the country’s history have been removed from the lists of directors and shareholders of companies, The Straits Times reported earlier this week, citing business records.
In August, authorities seized and froze around S$1 billion in assets, including luxury real estate, vehicles, luxury goods, gold bars, cryptocurrencies, and cars. The amount of money involved has grown to S$2.8 billion since then. The 10 suspects—nine men and one woman—are Su Baolin, Su Haijin, Chen Qingyuan, Su Wenqiang, Lin Baoying, Zhang Ruijin, Wang Dehai, Su Jianfeng, Vang Shuiming and Wang Baosen, were arrested by the Commercial Affairs Department.
ST reported that the companies where the suspects are listed span different sectors, including construction, IT, and finance.
The names of Su Baolin, whom OCBC is suing in an unprecedented case, and Su Haijin were removed from SG Gree, an air-conditioning firm. Su Baolin had once been a director and shareholder and Su Haijin, a shareholder.
Su Baolin, 41, is from China but carries a Cambodian passport and faces two forgery charges. Su Haijin, also originally from China, is a Cypriot by nationality. The 40-year-old faces one charge for possessing money from criminal offences and another for evading arrest.
Workers from SG Gree told ST that the two men had resigned from the company. Another man, Mr Su Zigen, is connected to the 10 suspects and was also a shareholder at SG Gree. His name is no longer listed as such as well.
Two other arrested individuals, Lin Baoying and Vang Shuiming, were once listed as shareholders of Golden WHH, an investment holding company. Lin Baoying was also one of the firm’s directors. The names of both have since been removed. The wife of Su Haijin, Ms Wu Qin, is no longer listed as a director of Hirohisa Vending, but she is still among the firm’s shareholders.
Forty-three-year-old Turning national Vang Shuiming was slapped with four money laundering charges and one forgery charge, while Chinese national Lin Baoying, 44, faces two forgery charges.
Thirty-three-year-old Chen Qingyuan, a Cambodian national, is no longer a director of toy seller Pinkee. He also faces four charges for possessing cash, bank accounts, automobiles, and cryptocurrency worth over S$8 million, allegedly stemming from criminal conduct. /TISG