SINGAPORE: On Wednesday (16 Aug), the Singapore Police Force (SPF) announced a raid involving over 400 officers across the island in a crackdown on money laundering and forgery activities, resulting in the historic seizure of assets amounting to roughly S$1 billion (US$736 million), which shocked the entire Island.
Ten individuals, with diverse nationalities but a common Fujian heritage, were arrested and charged in court on Wednesday night with forgery, money laundering, and resisting arrest.
Among them, there is a wide range of nationalities represented, including Cypriot, Turkish, Chinese, Cambodian, and Ni-Vanuatu.
Additionally, twelve individuals are aiding with current investigations, and eight are on the police’s wanted list.
Earlier, an X (formerly Twitter) post revealed that large sums of money were funnelled into Citibank accounts by dozens of Fujianese individuals using underground banks.
It was said that the Commercial Affairs Department (CAD) had established a covert task force more than three months prior, with a primary focus on the activities of Chinese nationals from Fujian province.
新加坡商业事务局CAD 于08月15日早晨7点开始进行统一收网抓捕行动，出动几百名警力抓捕30左右涉案人员（涉案人员总数为60人左右），涉嫌罪名洗黑钱，目前人员已经全部拘押（涉案人存在多位是中国网逃人员），目前涉案人员家中所有存在价值的东西也都全部扣押！…
— VanessaCao 🌈 (@vc_btxcap) August 16, 2023
Exploring the multifaceted business portfolio and lavish lifestyle of Su Haijin
As reported by The Straits Times, Su Haijin, a 40-year-old individual of Cypriot nationality and one of the ten individuals apprehended during Tuesday’s operation, formerly served as a director at No Signboard Holdings, a restaurant operator.
Su Haijin held this directorial position at the company from October 2021 to June 2022, as indicated by a search conducted with the Accounting and Corporate Regulatory Authority (Acra).
The company’s annual report for the year 2021, submitted in October of that year, documented Su Haijin as possessing a 20 percent ownership stake in the company, according to the coverage in ST.
The report further disclosed that he willingly resigned from his role as a non-executive director to concentrate on other commitments.
A spokesperson from No Signboard Holdings conveyed to The Straits Times on Thursday that Su Haijin held a non-executive directorship within the company.
The spokesperson clarified that he was not actively engaged in the company’s day-to-day operations, nor did he partake in any board meetings or decision-making processes. During that period, the company had an additional five directors.
The Acra search on Su revealed that he had the highest number of appointments among the ten individuals taken into custody during the operation.
Su Haijin also held positions as both a shareholder and director at Aiqinhai Investment, a privately held company limited by shares, and maintained identical roles at Daily Glory International, a mobile phone dealership.
Younger brother of another arrested, Su Baolin
Furthermore, according to a report from Chinese media outlet Lianhe Zaobao, it was revealed that Su Haijin holds positions as both a shareholder and director at Yihao Cyber Technologies Pte. Ltd.
Additionally, he is a shareholder in Meining (Asia) International Electronic Commerce Pte. Ltd. and Sg-Gree, an electrical appliance manufacturer specializing in air-conditioners.
Notably, Su Haijin is the younger sibling of another individual who was apprehended, namely Su Baolin.
Su baonin is the founder of Xiamen Xinbao Investment Holdings (厦门新宝投资控股) and Meinin E-Commerce (美宁电子商务), and made a director of Sg-Gree on June 1, 2021, the same day his brother Su Haijin was appointed a shareholder of the company.
Su Haijin paid S$36.37 million for a pair of adjacent bungalows in Sentosa Cove
The Business Times, back in August 2021, detailed Su Haijin’s acquisition of these adjoining bungalows, solidifying his opulent lifestyle. These properties, nestled in the exclusive enclave of Sentosa Cove, were reported to have cost him a combined total of $36.37 million.
Earlier, a Singapore-based online Chinese media outlet “Singapore Eyes” (新加坡眼), they claim to have had prior interactions with Su Haijin, who communicates with a distinctive Southern Min (闽南) accent, a dialect commonly spoken in Fujian.
The post disclosed that Su resides in an upscale mansion within Ewart Park in Bukit Timah and is the owner of a Rolls-Royce, which serves as his means of transportation.
Allegedly, the market value of Su’s mansion exceeds S$80 million. Given his foreign status, it is speculated that a rental arrangement is more plausible than an outright purchase.
According to the ST, Su Haijin made his residence near Holland Road in 2021, with the monthly rent reportedly amounting to around $80,000 during that period, as per an anonymous family insider.
This same source also revealed that in 2017, Su began renting a unit within the Silversea condominium located in Marine Parade. Two years later, he, along with his wife and three children – two sons and a daughter – moved into a duplex penthouse at Gramercy Park on Grange Road.
It’s worth noting that Su is associated with the acquisition of no less than three units within this upscale development. Su’s wife gave birth to a fourth child earlier in 2023.
Indulging in Extravagance: Su even reportedly owned a Yacht
A photo shared by ST indicated that Su Haijin also owned a Yacht, which he named ‘Family’.
Utilizing the vessel tracking website ‘VesselFinder‘, it was uncovered that a yacht bearing a similar name was registered under the flag of the Cook Islands.
Notably, the yacht’s recent recorded position was within the prestigious confines of One 15 Marina, an esteemed marina and yacht club nestled within the exclusive Sentosa Cove of Singapore.
Su’s high-life in Singapore
Reportedly, Su Haijin actively engages in social activities, having purportedly sponsored the Singapore President’s Charity Golf Tournament.
He also offers support to various associations, and in return, he has been honoured with the title of honorary chairman.
Su was charged with one count of resisting arrest, in which the police statement indicated that during the arrest on Tuesday, officers outside Su’s bedroom identified themselves and instructed him to open the door.
Su then allegedly leapt from the second-floor balcony of his GCB in Ewart Park and was later found by the police hiding in a drain.
The jump resulted in fractures to his hands and legs, and he was taken to the hospital while conscious.
Su Baolin reportedly identified as a shareholder of construction firm
In addition to Su Haijin, other arrested suspects, as revealed by Lianhe Zaobao, were found to hold positions in one or two companies each, indicative of their broad involvement in various business ventures.
This includes Su Baolin, Su Haijin’s elder brother. Gutzy earlier reported that Su Baolin, a 41-year-old Cambodian national, reportedly paid S$39.33 million for a Sentosa Cove bungalow with a sea-facing view in April 2021.
A search for Su’s company, Xinbao Investment via the online archive Wayback machine, revealed that Su Baolin as the founder of Xiamen Xinbao Investment Holdings and Meinin E-Commerce.
He is reportedly a shareholder of construction firm Sentosa Project.
According to a police statement, Su was arrested on Tuesday at a Good Class Bungalow (GCB) located on Nassim Road, during which he was purportedly discovered with a foreign passport suspected to have been issued by China.
Items confiscated during the operation encompassed cash exceeding S$777,000, along with 33 luxury bags and watches, as well as 75 pieces of jewellery.
Police authorities have subsequently frozen three associated bank accounts, with a collective balance surpassing S$2.4 million.
Su Jianfeng
Su Jianfeng (苏剑锋), a 35-year-old national of Vanuatu, is reportedly a shareholder of a wholesale and distribution company called Ricco.
Su Jianfeng faced a charge of money laundering. His arrest took place within a Good Class Bungalow (GCB) situated in Third Avenue in Bukit Timah.
It was reported that he possessed a foreign passport, which was suspected to be issued by China.
Law enforcement officers seized various items during the operation, including cash exceeding S$1.4 million, along with 95 pieces of jewellery and 69 luxury bags and watches.
Zhang Ruijin and Lin Baoying
Zhang Ruijin (张瑞进), aged 44, a Chinese national, was a director and shareholder at Golden Eagle Assets, and director at Golden Eagle Family Office Pte Ltd., which was incorporated on 03 Oct 2019 according to an online source.
Zhang’s involvement extended to his role as a director and shareholder at Singapore Galaxy Fintech Pte Ltd, although he has since been relieved of these responsibilities.
Lin Baoying, 43 years old, Chinese nationality and also Zhang’s wife, was a manager at Ban Tian Yao Catering and Shareholder at Eagle77.
Zhang Ruijin and Lin Baoying have each been charged with one count of forgery. They were apprehended at a bungalow located in Pearl Island at Sentosa Cove o Tuesday.
Chen Qingyuan
Chen Qingyuan (陈清远), a 33-year-old Cambodian national, was a director and shareholder at Hicloud Technology Esop and Tian Yi Technology (SG), and Director at Pinkee Pte Ltd.
Chen faced charges of money laundering following his arrest at his condominium on Leonie Hill Road in the River Valley area.
Vang Shuiming
Vang Shuiming (万水明), a 42-year-old Turkish national, was director and shareholder at Zhuo Chi Technology Company.
As of now, there still lack of relevant background of remaining three suspect, including Su Wenqiang (苏文强), a 31-year-old Cambodian national; Wang Baosen (王宝森), a 31-year-old Chinese national, and Wang Dehai (王德海), a 34-year-old male Cypriot national.
Earlier, The Singapore Eyes reported that Vang Shuiming was reportedly sought by Chinese authorities within the country last year for allegedly involvement in a profit-oriented online gambling network.
