ACRA sanctions man with 185 directorship over links to $2.8B money laundering case

These nine companies have Su Haijin, a 40-year-old Cypriot national; Su Baolin, a 41-year-old Cambodian national; and Vang Shuiming (万/王水明), a 42-year-old Turkish national, listed either as directors or shareholders.

The three individuals, originally from Fujian China, are facing various charges, including money laundering, forgery, and resisting arrest.

Significantly, his name appeared more than once within two of these companies, suggesting his multifaceted roles in those firms.

On 3 September last year,  The Straits Times (ST) reported that Wang has previously held positions as director, secretary, or shareholder in an astounding 224 companies spanning various industries, including investment, technology, consultancy, and pharmaceutical trade.

A third of the 224 companies have been delisted from the Acra business registry.

In his conversation with the ST last year, Wang. explained that the suspect had convinced him to invest in the suspect’s company, saying, “He (the suspect) asked me to take care of his company. But I have never taken a single cent or shares.”

When asked about his extensive involvement with approximately 400 companies since 2014, Wang defended his actions, stating, “So what if I’m involved in all these companies? I do secretarial work for companies and they are all legitimate. I’m not doing anything wrong.”

“I live in an HDB flat and drive a second-hand car, which I took out a loan for.”

Wang mentioned that he was introduced to the individual by Su Haijin, despite denying any substantial business connections with Su.

The ST uncovered that Wang holds secretarial positions in Yihao Cyber Technologies, Daily Glory International, and Aiqinhai Investment, three companies where Su Haijin was listed as a director.

Su was also a shareholder in Meining (Asia) International Electronic Commerce and Sg-Gree, firms where J.J. was appointed as director. Notably, Su Haijin is the younger sibling of another individual who was apprehended, namely Su Baolin.

Su Baolin is the founder of Xiamen Xinbao Investment Holdings (厦门新宝投资控股) and Meinin E-Commerce (美宁电子商务), and made a director of Sg-Gree on June 1, 2021, the same day his brother Su Haijin was appointed a shareholder of the company.

Wang is also reportedly the listed secretary of Singapore company Zhuo Chi Technology, linking him to Vang Shuiming.

Vang was a director and shareholder at Zhuo Chi Technology Company. Vang was reportedly sought by Chinese authorities within the country last year for alleged involvement in a profit-oriented online gambling network.

However, Wang is not the sole person engaged in multi-directorship business

Serangoon resident earns S$50 per firm set up; involved in over 200 companies

As per ST, a Serangoon resident Amy Chin has reportedly assisted in registering firms for at least three associates of the arrestees. Business records revealed her involvement as a shareholder or director in over 200 companies.

These associates include Wu Qin, whose husband, Su Haijin, faces charges of money laundering and resisting arrest in Singapore, allegedly possessing funds believed to be proceeds from unlawful remote gambling activities.

Ms Chin was previously listed as a director in Culbert Management, which was set up by Ms Wu.

Mr Jackson Lim, a Corporate service provider Grof, and another Singaporean – identified as Wang Junjie in a previous report – were also listed as company secretaries.

Ms Chin, a Singaporean herself, is associated with companies set up by Ms Su Caihuang, the wife of accused Wang Dehai, and Wang Qiujiao, whose registered address is a condo unit at New Futura, the same unit acquired by Chen Qingyuan in 2018.

Wang Dehai was among the ten individuals arrested in the S$2.8 billion case, and Wang Qiujiao was named in MinLaw’s list.