23-10-2023 (SINGAPORE) A luxurious landed property situated near Orchard Road, previously occupied by alleged money laundering offender Su Baolin, has been put up for rent again at a monthly rate of $120,000. The property, located in Nassim Road, is a good class bungalow (GCB) boasting five bedrooms, five bathrooms, and a unique second-floor swimming pool.
Su Baolin, a 41-year-old Cambodian national, was one of ten individuals arrested on August 15 in an anti-money laundering operation led by the Commercial Affairs Department, involving approximately 400 officers. All the arrested individuals are originally from China.
Although Su Baolin’s family has reportedly vacated the property, a red Ferrari and several Japanese multi-purpose vehicles (MPVs) were still observed parked at the premises earlier this week. Prospective renters interested in the property must be willing to sign a two-year contract and provide a two-month security deposit. GCBs in the area typically carry a price tag of around $50 million.
Angeline Quek, the property agent responsible for finding a new tenant, acknowledged that the GCB was previously occupied by someone connected to the $2.8 billion money laundering case. However, she stated that the property owner did not disclose any restrictions on renting out the house.
Quek commented, “(The owner) is an investor-owner. He is not staying there, so definitely, he would want to rent (the house) out.” Nevertheless, there has been no expressed interest in viewing the property thus far, with Quek noting that the current property market is relatively quiet.
Su Baolin’s wife, Ma Ning, also resides in Gramercy Park, a condominium in Grange Road, which is listed as the registered address of Su Haijin. Su Haijin, who also faces charges related to forgery and money laundering, recently moved out of the GCB he had rented in Ewart Park. The 32,000 sq ft property, dubbed “KTV Central” by neighbors, witnessed frequent parties hosted by the 40-year-old and his wife, Wu Qin. The family employed several domestic workers and two chefs from China.
According to an Indonesian maid residing on the same street, the family moved out approximately two weeks ago. The maid stated, “Before his arrest, he had visitors to the home almost every day.” Su Haijin faces charges for evading arrest and possessing money derived from criminal activities. Notably, a white Rolls Royce and two Japanese MPVs with covered license plates were found on the property.
Movers were also observed at another GCB in Bishopsgate, where items were being removed from the 17,100 sq ft property that had been leased in 2020 for $150,000 per month. Vang Shuiming, also known as Wang Shuiming, previously resided in the property with his wife, Wang Ruiyan. Among the items removed was a pallet containing around 50 bottles of Macallan 25 Years Sherry Oak whiskey, each valued between $4,000 and $5,000.
The items were loaded into an air-conditioned truck, which was then escorted to Le Freeport Singapore, a highly secure storage facility in Changi North Crescent known for safeguarding valuable assets such as fine art and precious gems. Plain-clothes police officers were observed entering the property to conduct investigations, while Vang’s family remained in the house.
Vang, a 42-year-old Turkish national, is facing charges related to using a forged document and money laundering. The recent money laundering probe has had an impact on both rentals and sales in the area, with real estate agents noting a decline in interest from Chinese nationals. Property owners are reportedly more flexible on pricing and seek to maintain a low-key and low-profile image to avoid any unwanted attention.
