S$3B money laundering accused Su Baolin faces 3 new charges, totaling 13

Su, a 42-year-old Cambodian national originally from Fujian, China, was arrested by Singapore authorities in August 2023, bringing the total number of charges against him to 13.

Two of the new charges allege that he possessed over S$777,220 in cash in his Nassim Road mansion and a Toyota Alphard Hybrid valued at approximately S$332,280, suspected to be proceeds from illegal gambling activities abroad.

The third new charge accuses him of falsely declaring to the Ministry of Manpower’s Controller of Work Passes in October 2022 that his wife, Ma Ning, would be employed as the sales and marketing director of SG-Gree, a company where he serves as a director, despite there being no such arrangement.

Among Su’s previous charges, three accuse him of abetting Wang Junjie from 2020 to 2022 in making false representations to the Inland Revenue Authority of Singapore regarding Xinbao Investment Holding s (厦门新宝投资控股)’s financial status.

A search for Su’s company, Xinbao Investment, revealed that the website has already been taken down.

Su became the director of Sg-Gree on 1 June 2021, the same day his brother Su Haijin was appointed a shareholder of the company.

Another charge relates to a separate money laundering offence, alleging that in December 2020, he utilized S$657,980 in criminal proceeds to purchase three properties at Scotts Square on Scotts Road in his wife’s name, through three checks each exceeding S$1.8 million.

During this period, Su allegedly assisted a former Citibank employee, Wang Qiming, in forging a borrowing agreement to deceive Standard Chartered Bank and submitted a forged income declaration certificate from ZhengJiang Chengnabaili Import & Export to Citibank as supporting documentation.

In November 2017, Su purportedly made false statements in a statutory declaration, claiming to be a director of a company called Great Trillion Technology in Hong Kong, and stating that he had received dividends and director’s salary and fees totalling about S$5.1 million since 2016.

The remaining three charges against Su pertain to his refusal to sign statements made during an interview at Changi Prison from December 2023 to January 2024.

If convicted of money laundering, Su could face fines of up to S$150,000 and imprisonment for up to three years for each offence.

Lying to the Ministry of Manpower could result in fines of up to S$20,000 and imprisonment for up to two years.