The police seized and issued with prohibition of disposal orders for S$3 billion in cash and assets belonging to the 27 individuals. - Photos: Singapore Police Force
SINGAPORE: Investigations into the S$3 billion money laundering case and the wider network of people linked to it will continue, with the police flagging to their foreign counterparts financial information of the suspects on the run for possible action.
On Friday (June 7), Cypriot national Wang Dehai was sentenced to 16 months’ jail over one money laundering charge. He is the last of the 10 foreigners arrested in connection with the case to be convicted.
The authorities are now turning their attention to the 17 individuals who fled the country amid the probe, and others, including Singaporeans, who helped facilitate the nation’s largest money laundering case.
In a reply to queries from The Straits Times, the Singapore Police Force (SPF) said that while their enforcement powers are limited to Singapore’s jurisdiction, they do proactively work with foreign law enforcement agencies (LEAs) when tackling transnational crimes.
“In relation to the ongoing $3 billion anti-money laundering probe, the SPF has been actively sharing information through global policing networks, including seeking assistance on the whereabouts of the wanted persons, two of whom currently have Interpol red notices issued against them,” said an SPF spokesman.
The police previously identified the two wanted individuals as Su Yongcan and Wang Huoqiang.
Su Yongcan, 33, is both Su Jianfeng and Wang Dehai’s brother-in-law. Wang Huoqiang, 29, is Wang Dehai’s cousin.
The authorities have seized or frozen around $161 million tied to Su Yongcan, and around $5.2 million from Wang Huoqiang.
SPF said the Commercial Affairs Department’s (CAD) Suspicious Transaction Reporting Office (STRO), which is Singapore’s financial intelligence unit, is also sharing information with foreign counterparts.
“STRO had also worked with foreign counterparts to exchange financial information on the wanted persons, which could be helpful for investigations by local LEAs.
“The STRO had disseminated analyses of financial information on the same persons to local LEAs for possible enforcement or regulatory action,” said the SPF spokesman.
ST understands the police will also investigate individuals who helped the 10 foreigners and their associates register shell companies, and those who conspired with the convicted money launderers to falsify sources of wealth and legitimacy.
Other individuals who failed to flag suspicious transactions, including those working for real estate companies, will also be questioned.
ST understands that since August 2023, some of the nearly 60 real estate agents suspected to be involved in the sale or rental of the 207 properties related to the case have already been interviewed by the police. - The Straits Times/ANN
