16-8-2023 (SINGAPORE) The Singapore Police Force (SPF) has made a significant breakthrough in combating money laundering with the arrest of 10 foreign nationals. The individuals are suspected of being involved in illicit money laundering activities linked to organized crime syndicates operating overseas. The arrests were carried out during a series of coordinated raids conducted on 15th August, resulting in the seizure of approximately S$1 billion worth of cash and assets.
The SPF, in a Facebook post, disclosed that more than 400 officers from various departments were deployed for simultaneous raids across multiple locations. The targeted premises included prestigious residences such as Good Class Bungalows (GCBs) and condominiums. Among the arrested individuals were three Chinese nationals (PRC), three Cambodian nationals, two Cypriot nationals, one Ni-Vanuatu national, and one Turkish national. It is worth noting that despite their diverse nationalities, all suspects were found in possession of foreign passports believed to have been fraudulently obtained from other countries.
During the raids, one of the Cypriot nationals attempted to evade arrest by jumping from the second floor of his GCB. However, he was eventually found hiding in a drain and was subsequently conveyed to the hospital for injuries sustained during the escape attempt. The 10 suspects face charges related to forgery and money laundering.
- Su Haijin, a 40-year-old national from Cyprus, was apprehended in a Good Class Bungalow (GCB) located along Ewart Park in the Holland area. He faces one count of resisting lawful apprehension.
- Vang Shuiming, a 42-year-old Turkish national, was arrested in a GCB along Bishopsgate in the Tanglin area. He has been charged with one count of using a forged document.
- Zhang Ruijin, a 44-year-old Chinese national, and Lin Baoying, a 43-year-old Chinese national, were both apprehended in a bungalow on Pearl Island at Sentosa Cove. Each of them has been charged with one count of forgery for the purpose of cheating.
- Su Baolin, a 41-year-old Cambodian national, was arrested in a GCB along Nassim Road. He faces one count of using a forged document.
- Su Jianfeng, a 35-year-old Ni-Vanuatu national, was apprehended in a GCB along Third Avenue near Bukit Timah. He has been charged with one count of money laundering.
- Chen Qingyuan, a 33-year-old Cambodian national, was arrested in a condominium along Leonie Hill Road in the River Valley area. He faces one count of money laundering.
- Wang Dehai, a 34-year-old national from Cyprus, was arrested in a condominium along Paterson Hill in the Orchard area. He has been charged with one count of money laundering.
- Wang Baosen, a 31-year-old Chinese national, was apprehended in a condominium along Tomlinson Road in the Tanglin area. He faces one count of money laundering.
- Su Wenqiang, a 31-year-old Cambodian national, was arrested in a GCB along Lewis Road in the Bukit Timah area. He has been charged with one count of money laundering.
The SPF’s operation also led to the confiscation of significant assets. More than S$23 million in cash and 35 bank accounts with a total balance exceeding S$110 million were seized. Additionally, the authorities issued prohibition of disposal orders against 94 properties and 50 vehicles with a collective value surpassing S$815 million. Luxury items, including bags, watches, jewelry, and gold bars, were among the other assets confiscated.
Investigations are ongoing, with 12 individuals assisting the authorities in their inquiries. Meanwhile, eight individuals believed to have connections with the arrested foreigners remain at large.
The SPF’s crackdown on money laundering comes as part of its ongoing efforts to combat financial crimes and maintain the integrity of Singapore’s financial system. The police force has been vigilant in detecting and investigating suspicious activities, particularly those involving the use of forged documents to legitimize illicit funds in local bank accounts. The arrests of these foreign nationals highlight the global nature of money laundering networks and their attempts to exploit Singapore’s robust financial infrastructure.
The SPF has emphasized its commitment to pursuing further investigations and potentially seizing additional assets. The successful operation serves as a stern warning to individuals involved in money laundering activities and demonstrates Singapore’s determination to maintain a strong stance against financial crimes.
As the investigations progress, the SPF will continue to work collaboratively with international law enforcement agencies to dismantle transnational criminal networks operating in the region. The crackdown on money laundering not only protects Singapore’s financial system but also contributes to global efforts in combating organized crime and ensuring a secure international financial landscape.
