Key suspect in S$1.8 billion case allegedly founded Philippines-based gambling empire a decade ago

SINGAPORE: A tip-off to Singaporean Chinese media has unveiled that one of the accused individuals in the S$1.8 billion money laundering case purportedly amassed his wealth a decade ago by launching a gambling website in the Philippines.

According to Shin Min Daily News, an insider who claimed to be familiar with Vang Shui Ming, one of the accused in this high-profile case, disclosed that Vang had established a gambling website in the Philippines between 2012 and 2013.

Reportedly, he was among the pioneering Fujianese individuals to venture into online gambling in the Philippines.

Police investigations have previously disclosed that Vang (also known as Wang Shui Ming), a 42-year-old Turkish national originally from Fujian, China, 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 revealed in the High Court that Vang had acquired a total of 11 properties.

The peak of Vang Shui Ming’s gambling empire

According to the insider, by 2016, Vang Shui Ming had accumulated a substantial amount of capital and initiated an expansion phase.

The insider’s information also asserted that many underground gambling operators from Fujian flocked to the Philippines to join his enterprise.

At its zenith, Vang allegedly employed a workforce of 10,000 people, with a monthly payroll exceeding S$20 million.

Insiders contend that Vang Shui Ming was a major player in the industry there, known by nicknames like “the Big Ming (明大)” or “The Big Boss Ming (大明总).” At least 7 to 10 online gambling groups were affiliated with him.

These distinct groups autonomously managed multiple online gambling platforms and staffed over 10,000 personnel during their peak, including managers, promoters, technicians, and financial specialists.

Reportedly, newly recruited employees commenced with a monthly salary of 10,000 RMB (approximately US$1,372), which increased to 12,000 RMB (approximately US$1,646) after a two-month probation period, with an annual raise of 1,000 RMB.

Regarding managerial-level employees, their monthly salaries ranged from 20,000 RMB (approximately US$2,743) to 25,000 RMB, and they also received profit-sharing.

In essence, the syndicate disbursed at least 1 billion RMB (approximately S$200 million or US$1.37 million) in salaries to its employees every month.

The insider mentioned that each group could operate multiple gambling platforms, and about two years ago, one group could amass 5 billion RMB (approximately S$940 million) in gambling revenue from registered gamblers every month.

“However, over the past two years, law enforcement has cracked down severely, and it’s not as profitable as before, ” the insider claimed.

Vang Shui Ming is among the ten individuals, including nine men and one woman aged between 31 and 44, apprehended during an islandwide raid on 15 August conducted by over 400 officers led by the Commercial Affairs Department (CAD).

These individuals have various nationalities but share a common origin in Fujian.

The prosecutor unveiled that both Vang and his brother, Wang Shuiting, are sought by Chinese authorities for their involvement in illegal gambling activities.

High-value Canninghill Piers units linked to suspect in S$1.8 billion money laundering case

In June 2022, Lianhe Zaobao reported that a Chinese national from Fujian acquired 20 units in bulk at CanningHill Piers for an estimated S$85 million.

Vang Shui Ming, the key figure in the ongoing money laundering case, is believed to have financed the acquisition of 10 units within this prestigious condominium development.

The 20 Canninghill Piers units that were bought in June last year include 10 3-room flats priced between $3.1 million and $3.3 million, and ten 4-room units priced between $5.3 million and $5.6 million.

As reported earlier by Lianhe Zaobao, industry sources with knowledge of the transaction revealed that the funds used to acquire these units were transferred from Indonesia to Singapore.

Canninghill Piers is jointly developed by City Developments Ltd and CapitaLand Development, with an additional unit at Shun Tak Holdings’ Park Nova.

These units are currently in the construction phase and have been subjected to the prohibition of disposal orders.

Vang hit with forgery and four money laundering charges

On 5 September, prosecutors disclosed to the Singapore High Court that they have assumed control of assets exceeding S$1.8 billion (approximately US$1.3 billion) as they continue to probe this high-profile case within the city-state.

Vang Shui Ming’s legal representative appealed to the High Court for his client’s release on bail, but the request was dismissed by the judge.

The prosecutor unveiled evidence suggesting a close association between Vang and two co-accused individuals: Su Haijin, a Cypriot national, and Su Baolin, a Cambodian national.

Vang faces charges of forgery and four counts of money laundering under the Corruption, Drug Trafficking, and Other Serious Crimes (Confiscation of Benefits) Act.

Earlier it was also reported that Vang was granted Cambodian citizenship on March 2, 2019.

Vang was a director and shareholder at Zhuo Chi Technology Company.