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2 new charges for money laundering accused who allegedly submitted forged documents to banks

2 new charges for money laundering accused who allegedly submitted forged documents to banks

Source: Straits Times
Article Date: 09 Feb 2024
Author: Nadine Chua

According to charge sheets, Su Jianfeng allegedly fraudulently used several sets of forged annual reports of a Chinese company, Xiamen Zhou Hang Mao Yi You Xian Gong Si, and submitted them as genuine documents to Standard Chartered Bank and Bank of Singapore.

Su Jianfeng, one of the 10 accused in Singapore’s largest money laundering case, was handed two new charges on Feb 8.

Su, 35, a Vanuatu national who was originally from China, now faces six charges in total.

According to charge sheets, Su allegedly fraudulently used several sets of forged annual reports of a Chinese company, Xiamen Zhou Hang Mao Yi You Xian Gong Si, and submitted them as genuine documents to Standard Chartered Bank and Bank of Singapore.

This was allegedly done to deceive the banks into believing that Chen Qiuyan, a person allegedly linked to the case, had legitimate sources of wealth.

Chen Qiuyan was named in a notice the Ministry of Law sent out in August 2023 to dealers of precious metals and stones that listed the names of individuals who could be linked to suspicious transactions.

The Straits Times reported in September 2023 that Chen Qiuyan’s registered address is a unit at 8 Saint Thomas, a condominium in River Valley, where Su lived.

Su was handed four charges in August 2023 for allegedly possessing illegal proceeds from unlawful remote gambling offences, comprising $17 million in three safe deposit boxes and $550,903 in cash.

Prosecutors had said in October 2023 that Su claimed to be the chief executive of a computer support firm, but did not know where his office was.

In fact, investigations show that this firm, An Xing Technology, is a shell company, said the prosecution in arguing against granting him bail.

A Commercial Affairs Department officer’s affidavit had said that more than $231 million worth of assets belonging to Su and his wife had been seized or subjected to prohibition of disposal orders.

They include 13 real estate properties worth more than $115 million, four vehicles worth over $4.7 million, $18.4 million in cash, $66 million in bank accounts and $26 million worth of cryptocurrency.

Su is wanted in China for alleged links to an illegal gambling gang uncovered in 2017. Another of the accused, Cypriot national Wang Dehai, is wanted for his part in the same operation.

Su’s pre-trial conference is scheduled for Feb 15.

In January, the police said in their latest update that the assets seized in this money laundering case are worth more than $3 billion.

It is Singapore’s biggest money laundering case and one of the world’s largest.

In total, the assets confiscated by the authorities include 207 properties, 77 vehicles, more than $1.45 billion in bank accounts, and more than $76 million in cash of various currencies.

Thousands of bottles of liquor and wine, cryptocurrency worth more than $38 million, 68 gold bars, 483 luxury bags, 169 branded watches and 580 pieces of jewellery were also seized.

Separately, warrants of arrest and Interpol red notices were issued against two suspects – Cambodian nationals Su Yongcan, 33, and Wang Huoqiang, 29 – for money laundering offences.

A red notice is a request to law enforcement worldwide to locate and provisionally arrest a person pending extradition, surrender, or similar legal action.

The police had said the pair left Singapore before the 10 foreigners related to the case were arrested on Aug 15, 2023.

Source: Straits Times © SPH Media Limited. Permission required for reproduction.

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