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

The latest OCCRP data leak suggests Su Jianfeng, accused in S$3 billion money laundering case, may have acted as a middleman for property purchases in Dubai between 2020-2022. Su and others, some wanted by Chinese authorities, bought over 100 properties worth more than US$146 million, including entire floors in the Grande Downtown, a luxury skyscraper opposite the Burj Khalifa.

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The latest data leak uncovered by the investigative journalism group, Organised Crime and Corruption Reporting Project (OCCRP) and the Straits Times, suggests that Su Jianfeng, accused in the S$3 billion money laundering case, may have acted as the middleman facilitating the purchase of properties in Dubai for those involved in the case, primarily between 2020 and 2022.

According to the OCCRP report, 36-year-old Su Jianfeng has been revealed as the owner of Fidu Properties DMCC, a Dubai-based property firm marketing properties primarily to buyers from China.

This firm is part of Fidu Property Real Estate Brokerage, a top partner for Dubai’s largest property developer, Emaar Properties PJSC, which is part-owned by Dubai’s ruler.

Despite a 2015 Chinese arrest warrant for alleged illegal gambling, The Vanuatu citizen originally from Fujian, China reportedly accumulated a substantial property portfolio.

He and two other accused, Lin Baoying and Su Haijin, own over $30 million worth of Dubai real estate, including properties developed by Emaar and brokered by Fidu.

Five other men, named in connection with the Singapore case or wanted by Chinese police, also invested heavily in Dubai property.

Three of them bought three adjacent floors of a skyscraper opposite the Burj Khalifa.

Extensive property acquisitions: Over 100 properties worth more than US$146 million

In total, they purchased at least 126 properties worth more than 537 million dirhams (or approximately US$146 million).

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 WenqiangSu HaijinWang BaosenSu 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.

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The banks & the real estate agents who did business with the Fujian Gang, share responsibility…some are under investigation too..
Got conned by master cheaters…they mustve let let their guard down maybe after seeing those mil$$ coming in ?
if only these prcs had used their talents for good …!

Last edited 22 days ago by Master Conmen

It may be slap in the wrist, but this elite gets a huge bounty in forfeiting their $3 BILLION.
This covers nicely their CV19 resilient budget drawn down from the reserve.
So the reserve bounces back to original amount plus with the added 2% gst making this govt even richer.

Our SG’s
once good reputation is being pulled down few notches with these opportunists…and how does this sgov punish them???
Just a “slap on the wrist” few months in jail….something seems odd.

Bit by bit story leaked – certainly a trick of media not to overload full story at once as to lessen impact bcz juices leak don’t contains the full flavour when, if it pours as an avalanche.

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