Accused in S$3B money laundering case invested over US$30 million in Dubai real estate

Su was among the ten people arrested in August 2023 in an anti-money laundering probe.

He currently faces twelve charges related to forgery for cheating and the alleged possession of illegal proceeds from unlawful remote gambling.

In 2015,  the Guiyang County Public Security Bureau of China discovered that Su Jianfeng, along with Wang Dehai, Su Wenqiang, Wang Huoqiang, and Su Yongcan, were suspects in a gambling syndicate and were fugitives at that time.

Wang and Su Wenqiang were also among the ten arrested and charged in Singapore.

In 2019, Su Jianfeng went into a business partnership with China-origin businessman Su Sihai to incorporate Fidu Properties DMCC in Dubai.

Both are board directors, each with 50 per cent ownership in the firm.

Despite being a wanted man, Su participated in public events in Dubai.

In one video posted on Fidu Property Real Estate Brokerage’s YouTube channel, he can be seen attending the firm’s annual awards in 2019.

He told investigators he was a real estate agent in Dubai, but in another video uploaded to Fidu’s Facebook page, he can be seen cutting the ribbon at the opening of an office, a ceremonial role usually reserved for a guest of honour.

The Dubai leak suggests that Su Jianfeng had purchased 30 properties in Dubai, including apartments in the Burj Khalifa and a villa in District One Villas Phase Two.

Su Haijin and Lin Baoying, also accused in S$3 billion money laundering case, reportedly own property in Dubai.

Su Haijin, a 41-year-old Cypriot national originally from Fujian, China, pleaded guilty and was sentenced to 14 months imprisonment in April.

He has substantial asset portfolios worldwide. The Dubai leak reveals previously unreported properties, including 11 apartments worth at least $11 million in the Grande Downtown, a luxury Emaar development opposite the Burj Khalifa.

Lin Baoying, awaiting trial in Singapore, owns a luxury villa in Emirates Hills worth at least US$7 million.

Su Jianfeng’s role in facilitating property purchases in Dubai

The data leak suggests that Su Jianfeng may have helped others purchase properties in Dubai, including Chen Mulin, a Cypriot national identified by the Ministry of Law of Singapore as one of 24 known associates of the money launderers.

Chen owns 24 properties in Dubai, worth more than US$20 million, at The Grand at Dubai Creek and Grande Downtown.

The leak also showed that several other businessmen in Singapore bought properties in Dubai marketed by Fidu Property Real Estate Brokerage.

These include Su Binghai who owns at least two properties worth nearly S$1.2 million, and Su Shuiming and Su Shuijun from Fujian, China, who own the entire 66th and 68th floors of the Grande Downtown.

They have collectively paid more than S$31 million for these properties.

The duo, residing in Singapore since 2021, have been placed on China’s wanted list due to their involvement in a cross-border online gambling syndicate.

According to Singapore’s state media, The Straits Times, they reportedly left Singapore following investigations into the ten accused in the landmark S$3 billion money laundering case that shocked the Singaporean community.

In December last year, OCCRP exposed that another Fujian-born entrepreneur, Su Binghai, the founder of an Asian private equity firm, along with his two associates, Su Bingwang, and Su Fuxiang, were linked to Wang Dehai among the arrested in the S$3 billion case.

They reportedly abruptly departed Singapore in September last year, as authorities aimed to question them regarding his potential ties to the high-profile case.

New charges against Su Jianfeng

On 16 May, Su Jianfeng faced six new charges of forgery for the purpose of cheating, bringing the total number of charges to twelve.

These include allegations that he submitted false property sales contracts to two banks to deceive them into believing he had legitimate sources of wealth.

Currently, sixth of the arrested:  Su Wenqiang, Su Haijin, Wang Baosen, Su Baolin,  Zhang Ruijin and Vang Shuiming, already plead guilty in the S$3 billion case, all of whom received jail sentences ranging from 13 to 15 months for their involvement in money laundering activities.

After Vang’s conviction, Chen Qingyuan is expected to plead guilty on 23 May, while the remaining three—Lin Baoying, Wang Dehai, and Su Jianfeng—are still in remand.

Su Wenqiang and Wang Baoshen were deported to Cambodia by the Immigration and Checkpoints Authority on 6 May and are prohibited from re-entering Singapore.