SINGAPORE: On Wednesday (25 Oct), four luxurious cars associated with Singapore’s landmark s$2.8 billion money laundering case were towed away from a lavish estate in Third Avenue, located off Bukit Timah Road.
The leased estate, a prime good class bungalow (GCB), belonged to Su Jianfeng (苏剑锋), a 35-year-old Vanuatu citizen originally from Fujian, China.
Su Jianfeng is one of the ten individuals implicated in the S$2.8 billion money laundering scandal.
The Singapore state media, the Straits Times, reported that Singaporean authorities, at approximately 2:30 pm on Wednesday, removed a red Rolls-Royce Dawn, a black Rolls-Royce Cullinan, a red Porsche 911 Targa, and a white Toyota Alphard from the vast estate, spanning over 19,000 sq ft.
According to an affidavit filed in September by an officer of the Commercial Affairs Department (CAD), the combined value of these seized vehicles amounts to over S$4.7 million (approximately US$2.42 million).
Subsequently, these confiscated vehicles were transported to a logistics hub near Pioneer Road, where they were parked alongside several other high-end vehicles, including a light blue Rolls-Royce.
The police, on the same day, declared that they had seized several items associated with the money laundering case, including 56 Bearbrick ornaments, issued with prohibition of disposal orders, from two distinct locations.
However, they did not disclose the whereabouts of the second location.
The police said: “As part of the investigation process, the police are moving the seized items to appropriate locations to prevent tampering, loss, destruction or any other occurrence which may diminish their evidentiary value.”
These cars were part of a larger group of assets, including 62 vehicles and 152 properties, that had been subjected to the prohibition of disposal orders by the authorities, effectively rendering them unsellable.
The combined value of these vehicles and properties exceeds an astounding $1.24 billion.
Authorities seized 13 properties belonging to Su, valued at S$115.3 million
Su Jianfeng was apprehended on August 15 as part of a comprehensive island-wide operation conducted by Singaporean authorities, which led to the arrest of a total of ten individuals.
Presently, Su is confronted with four charges concerning illegal proceeds from remote gambling activities. This involves a substantial sum of S$17 million stashed in three secure deposit boxes and S$550,903 in cash.
Notably, his wife is also implicated as a witness in the ongoing investigations.
Moreover, Su might face additional charges for forgery, allegedly involving the submission of falsified documents to banks in an attempt to obscure the origins of the funds deposited into his accounts.
Assets in Su and his wife’s name that were seized or frozen comprise S$18.4 million in cash, S$66.1 million in bank accounts, S$26.5 million in cryptocurrency, 13 properties valued at S$115.3 million, and the four S$4.7 million-worth four vehicles.
Su Jianfeng claims to be “IT Company” CEO, but can’t locate office
On 18 October, District Judge Terence Tay denied Su’s bail, citing his failure to provide a satisfactory explanation for the source of his funds, ongoing investigations, and the presence of accomplices still at large.
He vehemently asserted his position as the CEO of An Xing Technology, a Singapore-based company, in a bid to counter the prosecution’s claim of his high flight risk.
Contradicting to his claim, an affidavit by the investigating officer (IO) disclosed to the court on 18 Oct indicated that Su’s company was, in fact, a shell entity.
According to IO Lye Jia He of the Singapore Police Force’s Commercial Affairs Department, despite Su holding the position of CEO, his knowledge about the company’s operations was severely limited.
“He could not state the number of employees in the company, could not identify its employees, customers and suppliers, and could not even state where the company was located.”
“He also could not provide any documents showing his employment or work done. It is therefore plain that the accused has little to no involvement in the company, or if the company is even a going concern, ” IO Lye informed the court, backing the prosecution’s objection to Su’s bail during the hearing.
Significant asset movements unveiled at luxurious properties linked to money laundering suspects
In a separate report, the ST detailed the activities at a Good Class Bungalow (GCB) in Nassim Road, currently leased by another primary suspect, Su Baolin, and his wife Ma Ning. Workers were observed packing belongings into cardboard boxes at the property.
Last Wednesday, the ST witnessed the removal of items from a GCB in Bishopsgate, situated off Tanglin Road. The residence is rented by Vang Shuiming who faces four charges of money laundering and one charge of using a forged document, along with his wife Wang Ruiyan.
Among the items being transported was a pallet containing approximately 50 bottles of Macallan 25 Years Sherry Oak whisky, each valued between $4,000 and $5,000.
The items were loaded onto an air-conditioned truck, accompanied by the same vehicle seen at the Nassim Road location the previous Monday. The truck then journeyed to Le Freeport Singapore, a high-security storage facility located in Changi North Crescent, known for its reputation as one of the most secure areas in Singapore for safeguarding wealth.
Last Friday, the Shin Min Daily News reported the transfer of several other assets, including a Rolls-Royce and a Bentley, from the Bishopsgate property.
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