Defense claims Su Haijin made Singapore home since 2017, downplays Su’s high flight risk

SINGAPORE: On Wednesday (13 Sept), the court heard that the total value of assets seized from Cypriot national Su Haijin, one of the key accused in the high-profile S$1.8 billion anti-money laundering case, has risen to S$170 million.

It was also revealed that he possesses “substantial wealth overseas”, including the property at 38 Oxford Street in London and a yacht in Phuket, Thailand.

During the proceedings at the State Courts on Wednesday, the discussion regarding Su’s bail request extended for more than two hours.

Deputy Public Prosecutor Eric Hu informed the court that Su’s substantial flight risk was evident from the day of his arrest when police officers visited his residence.

According to the Business Times, Su Haijin’s legal counsel argued that his overseas wealth accounted for only about 10% of his assets seized in Singapore. They also emphasized Su’s strong personal and financial ties to Singapore, where he has “made Singapore his home since 2017”.

On 6 September, the 40-year-old was accused of possessing money obtained from criminal activities.

He was also charged with one count of resisting arrest, in which the police statement indicated that during the arrest on 15 August, 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.

Suspected collusion with co-accused and uncovered international connections

DPP Eric Hu, during Wednesday’s court session, underscored that Su Haijin faces charges for which bail is not permitted, highlighting the potential for collusion between Su Haijin and Su Baolin, another defendant in the case.

Previously, it had been disclosed that Su Haijin and Su Baolin had close financial dealings related to two Beach Road properties valued at S$2.2 million in Su Haijin’s name.

They were also involved in the acquisition of a yacht alongside three other individuals.

Additionally, it was discovered that Su Haijin possesses passports from Cambodia and Turkey that the police did not recover.

The investigating officer’s affidavit, which was cited in court, also revealed the presence of a Saint Lucian passport under the name Su Junjie on the accused’s phone.

DPP emphasizes Su’s overseas wealth and multiple passports as indicators of “extremely high flight risk”

Deputy Hu stressed that Su Haijin’s extensive wealth abroad and possession of multiple passports were clear signs of his being an “extremely high flight risk.”

On Wednesday, District Judge Brenda Tan denied bail to Su Haijin, observing that he lacked substantial ties to Singapore and possessed the resources to comfortably relocate overseas.

Furthermore, the judge pointed out that the circumstances surrounding Su Haijin’s arrest strongly indicated his propensity to flee.

DPP Hu highlighted that Su Haijin had been less than forthcoming about his complete financial dealings with other suspects, only admitting to them when presented with evidence by the police.

The detailed information about his overseas wealth, as found in the investigating officer’s affidavit, underscored his ability to easily leave the jurisdiction, according to DPP Hu.

Su’s counsel claims Su Haijin made Singapore his home since 2017

Julian Tay of Lee & Lee, representing Su Haijin, contended that his client’s wealth outside Singapore constituted only a small fraction, approximately 10%, of the assets seized in Singapore.

Mr Tay countered the three points raised by DPP Hu, asserting that they were overstated due to the absence of evidence indicating Su’s intention to flee or any preparatory measures to evade court proceedings.

“My client has strong personal and financial connections to Singapore and he has made Singapore his home since 2017.”

He further noted that Su’s immediate family, including his wife, four children, and parents, also reside in Singapore. Tay argued that his client had no intention of abandoning his family to become a fugitive.

“He has every reason to stay in Singapore to defend himself and to reclaim back his assets,” said Tay.

Regarding Su Haijin’s possession of multiple passports, Tay clarified that Su had voluntarily disclosed the existence of his Cambodian and Turkish passports to the police and had indicated that they were no longer valid and inaccessible.

As for his Chinese passport, which was found by the police, it was also invalid, and Su had renounced his Chinese citizenship.

Additionally, Tay explained that the Saint Lucian passport bore the name Su Junjie as an alias, with the second page of the passport, not photographed, displaying the name Su Haijin, as relayed to the court.

DPP Hu countered that Su Haijin’s overseas wealth is not a small amount and would still enable him to lead a comfortable life if he absconds.

In addition, Su Haijin was not forthcoming with the existence of the Saint Lucian passport, and only disclosed it after he was shown evidence.

The police are currently verifying the existence of the Cambodian, Turkish and Saint Lucian passports with the relevant authorities.

DPP Hu added that investigations are still ongoing, as the case is “one of the most serious, if not the worst money-laundering cases in Singapore”, with a huge amount of assets involved.

In any case, the court is not required to conduct a rigorous fact-finding at this stage as the matter still has to be tried, DPP Hu said.

Su Haijin will next be in court on 11 October.

Su Haijiin 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 other nine accused persons are awaiting bail review at later dates.

Exploring the multifaceted business portfolio and lavish lifestyle of Su Haijin

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.

He 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.