MOM: All 10 suspects in S$1 billion money laundering case held Singapore Employment and Dependant Passes

SINGAPORE:  On Tuesday (15 Aug), The Singapore Police Force (SPF)  apprehended ten individuals and confiscated assets, including properties and luxury cars, with an estimated value of approximately S$1 billion (equivalent to US$737 million).

On Friday (18 Aug), the Ministry of Manpower (MOM) disclosed that the 10 foreigners, consisting of nine men and one woman aged between 31 and 44, held Employment (EP) and Dependant Passes (DP).

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

These ten individuals, originating from diverse nationalities but sharing a common Fujian origin, were taken into custody and formally charged in court on the evening of Wednesday.

Out of the group of ten, three are Chinese nationals. The remaining seven consist of 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.

Additionally, twelve individuals are currently assisting with ongoing investigations, and eight others are on the police’s list of wanted suspects.

In response to media inquiries, MOM stated that it is collaborating with the police in the investigation of these foreign nationals.

MOM further clarified that if serious offenses are uncovered, appropriate actions will be taken in consultation with both the police and the Attorney-General’s Chambers.

“These individuals held EPs and DPs. We will take the necessary action against them if serious offences are disclosed, in consultation with the police and the Attorney-General’s Chambers.”

MOM highlighted the requirement for all employers and work pass applicants to provide accurate information in their applications.

“This includes company details and applicants’ personal particulars, as well as work experience, salary and qualifications. MOM will assess all applications and look into any suspicious information.”

MOM stressed that it will not hesitate to prosecute errant individuals for false declaration offences under the Employment of Foreign Manpower Act.

Convictions for such offences could result in a fine of up to $20,000, imprisonment of up to two years, or both, per charge.

Moreover, employers who are found to have violated the law will also face the suspension of their work pass privileges.

This high-profile money laundering case has reverberated across the entire island, sparking inquiries into the extended periods of residence for some suspects within Singapore.

Additionally, the significant property acquisitions made by certain individuals in the city-state have garnered substantial media attention, prompting public discussion and scrutiny.

On Wednesday (16 Aug), the Singapore Police Force (SPF) announced a raid involving over 400 officers across the island to crack down on the high-profile money-laundering case, resulting in the historic seizure of assets amounting to roughly S$1 billion.

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

Singapore Chinese media 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.

An informed insider source disclosed to the media suggesting that the alleged money laundering group, known as the “Fujian Gang,” may comprise hundreds.

Within this group, there are several main factions with surnames like Su, Wang, Hu, and Chen.

Among the apprehended, Su Haijin and Wang Dehai are suspected to lead the Su and Wang factions, respectively.

A property broker, interviewed by Zaobao, revealed that many members of the Fujian group are known for their active nightlife, often indulging in extravagant expenditures exceeding S$100,000 during a single evening at nightclubs.

Furthermore, they have engaged in significant acquisitions of upscale residences in prominent locations like Sentosa Cove and the Orchard Road vicinity.