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Former NMP and veteran journalist voice concerns over S$1.8 billion money laundering case

Former NMP Kuik Shiao-yin and veteran journalist Bertha Henson have voiced their concerns regarding the high-profile S$1.8 billion money laundering case.

Ms Henson question how long such activities have been ongoing without detection; while Kuik emphasizes that cash payments for expensive properties should raise red flags of “something is not right here”.



SINGAPORE: The ongoing High Court trial of all ten suspects in the S$1.8 billion money laundering case has uncovered additional startling revelations.

As revealed in an affidavit presented during the court hearing on Tuesday (5 Sept), one of the suspects in the case, Vang Shui Ming, had financed the acquisition of 10 luxury units at CanningHill Piers.

In June last year, Lianhe Zaobao reported that a Chinese buyer from Fujian acquired 20 units in bulk at CanningHill Piers for an estimated S$85 million.

The 20 units include 10 3-room flats priced between $3.1 million and $3.3 million, and 10 4-room units priced between $5.3 million and $5.6 million.

Police investigations revealed that Vang (or Wang Shui Ming), a 42-year-old Turkish national originally from Fujian, had over S$200 million in assets confiscated by authorities, which included a staggering S$962,000 in cash discovered at his residence.

The prosecutor further divulged in the High Court that Vang had procured a total of 11 properties.

The recent high-profile money laundering case has reverberated across the entire island, raising questions about the extended residency of certain suspects in Singapore and their substantial acquisition of local properties with significant wealth.

Former NMP and veteran journalist raise concern over money laundering case, call for vigilance and proactive measures

Commenting on recent reports about the case, Kuik Shiao-yin, a Former Nominated Member of Parliament (NMP), and veteran journalist Bertha Henson have expressed their concerns.

They question how long such activities have been ongoing without detection and emphasize the need for proactive measures rather than relying solely on arrests.

On Tuesday, Bertha Henson, the former Associate Editor of The Straits Times, took to Facebook to raise important questions. She asked, “What I want to know is how long this been going on for and why it went undetected? It can’t be a “sudden” thing.”

She cautioned against invoking “zero tolerance” simply because arrests have been made, suggesting that true zero tolerance would have entailed prevention before the suspect’s extensive property acquisitions.

Bertha Henson may have been alluding to comments made by Home Affairs and Law Minister K Shanmugam, who asserted that Singapore’s handling of the recent money laundering case exemplifies the country’s zero tolerance for such offences.

Kuik Shiao Yin: Paying for expensive properties in cash is a red flag of “something is not right here”

Reflecting similar concerns, former Nominated Member of Parliament Kuik Shiao-yin reposted Ms Henson’s statement, highlighting that it’s not unusual to hear local property agents sharing gleeful stories about profiting from foreign clients who purchase multiple units with substantial cash sums.

Consequently, she raised the pertinent question: Should local property agents/agencies be mandated to report mysterious buyers in such cases?

“Insisting on paying for expensive properties in cash is a red flag of “something is not right here”, ” she remarked.

Ms Kuik served as an NMP for both the 12th and 13th Parliament of Singapore,  serving from August 2014 to September 2018.


CEA guidelines prohibit property agents from facilitating transactions linked to illicit funds

On 18 August, the Singapore Police disclosed that a total of 105 properties had been subjected to the prohibition of disposal orders in connection with the money laundering case.

The aggregate worth of these 105 properties is approximately S$831 million. Among them are seven detached bungalows situated at Sentosa Cove and 79 condominium units, including 19 that are still in the construction phase.

Moreover, 19 more properties categorized as commercial or industrial spaces have also been placed under the prohibition of disposal orders.

It was earlier reported that 60 real estate agents who were involved in selling properties to the suspects are expected to be requested to assist in the investigation

In accordance with guidelines from the Council for Estate Agencies (CEA), engaging in property transactions while being aware or having reason to believe that the client is using proceeds from drug trafficking or criminal activities to purchase the property is illegal.

Convictions could lead to fines not exceeding S$500,000 or imprisonment for up to 10 years, or both.

In June of this year, the Singapore government implemented a mandate requiring property developers to conduct background checks on buyers.

If suspicious money laundering activities or terrorism financing are identified, they are obligated to report these to the Commercial Affairs Department (CAD).

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The NMP face damn scary siak. Like 7th month.

I can tell you if we distribute this loots to the community here they will start praising and posting positives about our government.

Wang Yi, “I am hanging you with my tie.” Immediate, next day response. DOJ, 1MDB money laundering monies in Singapore, then action by MAS . KOM , fine by DOJ for bribery in the US not Singapore. UK, investigation on FI boss, response: arrest of Iswaran and OBS. UN : arms dealers living and using Singapore Banks then MAS acts. PM, Law Minister and FM will all three chorus, “ZERO TOLERANCE,” for corrupt practices but aren’t we the cave in the region for Ali Baba and his billion dollars? 70% are supportive of the thieves and the theft. When the… Read more »

Perhaps, it was “too complicated and complex” a case/cases/caseses, … until recently !!!

Not too dissimilar to the 1Mdb case real~ly, … where moves were only made after the DOJ’s involvement and announcements !!!

Financial and IT Hub indeed, … for scammers, schemers and sullied monies, right !!!

Committee of inquiry found nothing wrong..
CPIB found nothing wrong
SLA found nothing wrong
ICA found nothing wrong
Parliament found nothing wrong


Property agents wrong
And they will face the full force of the law.

haha how many more ah? you ask the people in USA who already said Singapoor is used for tax evaders for years if not decades now.

Zero tolerance after the deed is done? It took our law enforcement about 3years? Smart Nation? Or did Wang Yi’s tie removal do it?