Identity behind the 10 arrested in S$1 billion money laundering case revealed, some allegedly sought by Chinese authorities

SINGAPORE: The Singapore Police Force’s operation against a money laundering group on Tuesday (15 Aug) sent shockwaves across the entire island.

The authorities successfully apprehended ten individuals and seized assets, encompassing properties and luxury cars, with an estimated combined value of around S$1 billion (equivalent to US$737 million).

These ten individuals, hailing from various nationalities while sharing a common origin in Fujian, are comprised of three Chinese nationals within the group.

The remaining seven encompass three Cambodians, two Cypriots, one Turkish, and one Vanuatu national.

These individuals are facing a range of charges, including forgery, money laundering, and resisting arrest.

Singapore police earlier noted that all the persons involved in the high-profile money laundering case are neither Singapore citizens nor permanent residents.

A search on Chinese media sources revealed that among these suspects, some are sought after by Chinese authorities for crimes committed within Mainland China.

High-profile money laundering suspects linked to multi-million dollar property acquisitions and alleged ‘Fujian Gang’ network

Singapore’s Chinese media outlet, Lianhe Zaobao earlier reported that one of the arrested individuals, a Chinese national from Fujian, is alleged to have acquired 20 units at CanningHill Piers for an estimated S$85 million in June last year.

Notably, one of the suspects, Su Haijin, was reportedly a shareholder or director in multiple companies and had purportedly received S$36.37 million for a pair of adjacent bungalows in Sentosa Cove.

Insider information provided to the media has indicated a connection to a group referred to as the “Fujian Gang,” reportedly linked to this high-profile case.

Many members of this group are reputed for their vibrant nightlife activities, frequently indulging in lavish spending exceeding S$100,000 in a single night at nightclubs.

Moreover, this group has been involved in substantial acquisitions of upscale residences strategically positioned in renowned locales such as Sentosa Cove and the Orchard Road vicinity.

Gutzy has compiled a list outlining the backgrounds of the ten individuals, drawing from publicly available sources.

1) Su Haijin- exploring the multifaceted business portfolio and lavish lifestyle

Su Haijin (苏海金), 40, a Cypriot national, 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 in info available on 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, As reported by The Straits Times.

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.

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 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), 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.

A photo shared by ST indicated that Su Haijin also owned a Yacht, which he named ‘Family’.

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.

2) Su Baolin- elder brother of Su Haijin

Su Baolin (苏宝林), a 41-year-old Cambodian national, 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.

Gutzy earlier reported that Su Baolin reportedly paid S$39.33 million for a Sentosa Cove bungalow with a sea-facing view in April 2021.

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.

3) Su Jianfeng: a shareholder in Ricco

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.

4 & 5 ) Zhang Ruijin and Lin Baoying

8) Wang Dehai – Accused of Money Laundering

As of now, there is still a lack of relevant background of the remaining three suspects, 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.

Wang Dehai (王德海) was apprehended at his condominium situated in Paterson Hill, near Orchard Road.

Wang is charged with a single count of money laundering.

Reportedly, he possessed additional foreign passports suspected to be issued by China and Cambodia.

During the police operation, items confiscated included cash amounting to over S$2.2 million, along with 35 luxury watches and bags, as well as 51 pieces of jewelry.

9) Su Wenqiang – Charged with Money Laundering

Su Wenqiang (苏文强) was charged with a single count of money laundering on Wednesday following his arrest at a Good Class Bungalow (GCB) situated in Lewis Road within Bukit Timah.

Reportedly, he possessed a foreign passport suspected to be issued by China.

During the operation, the police confiscated items including cash exceeding S$600,000, as well as 11 pieces of jewelry.

The police also froze eight associated bank accounts, which collectively held a balance exceeding $10 million.

10) Wang Baosen: Accused of money aundering

Wang Baosen (王宝森) was charged with money laundering subsequent to his arrest at a condominium located on Tomlinson Road in the Orchard area.

The police seized cash amounting to nearly S$112,000.