Singapore
Singapore’s largest money laundering case hits S$3bn, 2 more suspects sought
Singapore’s largest money laundering case exceeds S$3 billion, with arrest warrants for Cambodian nationals Su Yongcan and Wang Huoqiang. SPF seizes more assets, including properties, vehicles, luxury items, and freezes bank accounts.
Singapore’s ongoing battle against a monumental money laundering case reached a new height as authorities intensified their search for two more suspects.
The case, initially uncovered in August last year, has now seen the total value of assets seized or frozen surpass a staggering S$3 billion (US$2.2 billion).
The Singapore Police Force (SPF) has issued a prohibition of disposal orders for an additional 55 properties and 15 vehicles linked to the case. Furthermore, a haul of 189 luxury bags, 34 pieces of jewellery, and five luxury watches were seized.
The latest development involves Cambodian nationals Su Yongcan, 33, and Wang Huoqiang, 29, both wanted for money laundering offences. Singapore police issued arrest warrants and Interpol Red Notices after the duo left the country prior to police operations commencing on 15 August last year.
Regarding Su Yongcan, a former holder of a China-issued passport, authorities have seized over S$16 million in cash and other foreign currencies. Additionally, prohibition of disposal orders have been issued for seven properties and 10 vehicles associated with him.
Police have also frozen bank accounts linked to Su, with a combined balance exceeding S$145 million.
In the case of Wang Huoqiang, also a previous holder of a Chinese passport, the police have seized approximately S$188,000 in cash and other foreign currencies. A prohibition of disposal order has been issued for one vehicle related to Wang.
Furthermore, Wang’s bank accounts, with a total balance surpassing S$5 million, have been frozen as well.
This comes on top of the 152 properties and 62 vehicles worth over S$1.24 billion to more than S$1.45 billion in bank accounts seized during the simultaneous raids on 15 August 2023, which resulted in the arrest of 10 foreigners from luxurious locales across Singapore, including Sentosa Cove, Tanglin, Orchard, Holland, and River Valley. The suspects, of Chinese origin but holding various nationalities, have been charged with money laundering offences and are currently in remand.
Additionally, over S$76 million in cash, cryptocurrencies valued at more than S$38 million, and an array of luxury items, including liquor, wine, gold bars, Bearbrick figures, luxury bags, high-end watches, and jewellery, have also been confiscated.
Singapore’s Second Minister for Home Affairs, Josephine Teo, earlier reported to Parliament in October last year the remarkable escalation of the case from S$1 billion to S$2.8 billion.
The case has since surpassed this figure, making it not only Singapore’s but one of the world’s largest anti-money laundering operations.
The SPF has urged the public to provide any information on the whereabouts of these individuals through their hotline or online platforms.
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fake cambodians. just like those fake Cyprus nationals. just take their money and deport them back to commie china for illegal dual citizenships.
“You don’t understand how good you’ve got it… You’re living in a place that’s so safe, in which you have almost endless opportunities, you get the best passport in the world, fantastic education, you can travel anywhere, you’re respected anywhere as a Singaporean.” This was spoken by an American Mr. Sharp, a multi-millionaire.
This is the type of people Singapore authorities should keep an eye on!
2 more down .
The Mafias of Sicily, the Yakuzas of Japan BOTH ENGAGED in Prostitution, Gambling, Money Laudering, CHEATING, FRAUDS without much punishments and Prosecution.
In fact Bribery enable many of these CRIMINALs and Their Crimes WENT UNNOTICED.
Is PAP the same? PAP Administration TREAT SG = PAP = GANGLAND of vice.
This duo’s addition to the FuJian gang was probably uncovered with the same methodology and expertise, as was Waran’s, … … “stumbled upon” whilst investigating another case !!! The duo were probably wondering, … how long does it take to f**king join the dots and were assuming, … the “geniuses” in the red dot have missed them and their stash, and were already planning on returning to move their moolah !!! Ownself praise ownself is shot to hell, … when instances such as this shows just how crap the personnel and how lightweight the system is. SillyPore is indeed, a… Read more »
Everything works in SG sheep barn. That’s the world understand a swamp turn into a modern metropolis through Political crooks of PAP who manipulated Govt services to serve their objectives when the Govt services should be deligently serving the people of SG. If the Govt Services of SG is serving the people when then QUITE VERY LIKELY this Billion Dollar Money CORRUPTION won’t HAVE had HAPPENED if PAP Politics has NOT fooled them and they are not blinded foolishly to believe PAP Administration. Govt services of SG should be independent of politics. Sadly the people of SG in the Govt… Read more »
Did Loong claimed he welcome wealthy people into SG to jobs. Why NOW U TURN against all these rich people from China?
Loong made a MONUMENTAL UNFORGIVABLE mistake OR he lied, as usual to Sheeps?
How DID Loong muddled himself to fool Sheegaporeans for so many years? And he paid himself world’s highest salary to lie to Sheeps to maintain his power and manipulation? Goodness – please God eliminate all these PAP bastards.
What did the various agencies in Singapore do, the commercial crime cid (for money laundering) the registry of companies (registration of companies, appointment of directors), the immigration (toing n froing of suspected persons) manpower ministry (work pass) the banks (large sum of deposits), the real estate companies (multiple home purchase) the car dealers ( purchase of super cars)?
All these organisations should be severely reprimanded.and systems should be setup with audit requirements for yearly reporting to a coordinating body.
I think $3b is just the tip of the huge iceberg. There are many others and other nationalities parked their money here. Whether it’s clean, semi-clean, dirty or very dirty we have not dig them out