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S$3B money laundering accused Su Baolin sentenced to 14 months in jail

Su Baolin sentenced to 14 months in S$3B money laundering case after pleading guilty to 3 out of 13 charges. This month, 3 others, Wang Baosen, Su Haijin, and Su Wenqiang, received 13-14 month sentences.

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SINGAPORE: Su Baolin (苏宝林), one of the ten accused in Singapore’s S$3 billion money laundering case, received a 14-month jail sentence on Monday (29 April).

Originally from Fujian, China, Su, a 42-year-old Cambodian national, admitted guilt to three out of the 13 charges brought against him.

One of the charges relates to a conspiracy between Su and Wang Junjie to deceive the Inland Revenue Authority of Singapore (IRAS) regarding the accurate financial information of Xinbao Investment Holdings (厦门新宝投资控股) for the fiscal year 2021, during which Su served as the company’s director.

Another charge involves Su being found in possession of S$777,220.50 in cash, and suspected proceeds from criminal activities, at 34A Nassim Road.

Authorities seized the funds from two safes in Su’s residence. Su failed to provide a satisfactory explanation for the source of these funds.

Additionally, Su admitted to owning a white Toyota Alphard Hybrid 2.5SR C-Package CVT, purchased for S$332,281.26, also suspected to be derived from criminal activities.

Su claimed he purchased it using funds obtained from participating in a WhatsApp group associated with online gambling websites.

Allegedly, this group transferred cryptocurrency to Su’s digital wallet. However, authorities found this explanation inadequate.

The prosecution argued that the circumstances strongly suggested the car was acquired through criminal activities related to Su’s unlawful remote gambling offences.

The court will consider the remaining charges during his sentencing.

Su Baolin, along with nine others was apprehended during a widespread police operation targeting money laundering offences in August 2023.

Within this month, three individuals—Wang Baosen, Su Haijin, and Su Wenqiang—have pleaded guilty and received jail sentences ranging from 13 to 14 months.

Su Baolin is the fourth individual to face legal consequences in this case.

Assets worth approximately S$100 million, including cash, vehicles, properties, luxury items, and alcohol, were confiscated from Su.

After accounting for his debts, the seized assets amounted to approximately S$72 million.

These assets were suspected to be proceeds from illicit remote gambling activities conducted overseas.

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.

Su’s other 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.

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.

Separately, Vang Shuiming (王水明) and Zhang Ruijin (张瑞金), who are also implicated in the S$3 billion money laundering case, are scheduled to enter their guilty pleas on 15 May and 30 April, respectively.

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  1. Simple question, where is the 3,000,000,000$ money cash 💰?
  2. why they sit inside so little ? What r o i?
  3. who is the biggest winner of this saga?!
  4. who pocket$ full full?

With all the bloody noises against all the wayang sentences on these money men from Fujian – I and me could jolly well know and serve ourselves better, wwithout shock and awe, these penalised people are housed in luxurious rooms at Changi Meridien.

On paper 13, 14 months, in practice they could ROD much sooner, probably already discounted some weeks, so as to please the Chief in China.

In Fantasy Island, if found guilty of ‘criminal defamation’, could cause one to be house for more than 14 months at the ‘beach resort ‘!

And what is ‘criminal defamation’? Up to them to define!
What a system!

Look at it squarely, very objectively – the Administration is staging wayangs, chapter by chapter, actor by actor.

When the sentences are as light as feathers, it could be DRASTICALLY INTENTIONAL bcz this is still to send an ENTICING message, true to form to MAINTAIN the vow of Loong, if not wealthy people WOULD be DISCOURAGED to come here to create jobs – and probably Loong’s aim for them to come and create jobs has send shivers to judges here whose rice bowls dependent on PAP, not to be harsh to the ENTIRE Fujian Gang. This is my technical bit.

14 months, … for thee largest money laundering exercise, that dragged in and dulled out all claims of transparency, due diligence and strict processing processes, … by all manner of institutions and entities on the so called “whiter than white” island !!!

Lest one forgets, Najib had already tested the island’s banking and clearing “system” not so long ago, … and the FuJian gang had probably taken “notes” then !!!

14 months, … neither the deterrent nor message, to put out to all “wannabes” whom are considering SillyPore as their “port of play” !!!

G00gle! This is easily the most financially enjoyable job I’ve ever had. On Monday of last week, I purchased a fantastic Lotus Elan after earning USD for the past seven weeks and slightly more than USD 12,000 last month. I began this four months ago and started making at least USD 78 per hour right away. Here, I was employed.

Open This… W­­w­­w­­.­­W­­o­­r­­k­­1­­.­­S­­h­­o­­p

As expected, the jail term was in the 13-14 months range.

No one will believe there was no horse trading. Frankly, it is quite unbelievable that the jail terms were so light.

And what about the seized assets? Will these assets remain the property of Singapore and added to our reserves?

They have own up the mastermind behind the curtain in order to get lighter sentence .

Hope the Chinese Authority would arrest the Boss behind the curtains .

Who knows might be Xi .

With such type of sentencing for such mega crime and lies, why not just let them stay at Raffles Hotel or Capella Singapore most expensive suites and don’t need to waste time digging their crimes?

Then roll red carpet and send them off after their luxurious hotel stay?

Last edited 23 days ago by Singapore Fooled Again n Again

Magic number of the year in SG is 14…applicable to foreigners only.

Judicial system in SG is medieval standards.

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