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7th man in S$3B money laundering case jailed 15 months, forfeits S$21.3M

Chen Qingyuan, the seventh convict in Singapore’s landmark S$3 billion money laundering case, received a 15-month jail sentence on Thursday. His counsel argued for leniency, highlighting Chen’s economic and social contributions to Singapore since relocating in 2019, and contended that a higher sentence would be disproportionate.



SINGAPORE: Chen Qingyuan, one of the accused in Singapore’s landmark S$3 billion money laundering case, was convicted of two money laundering charges and one forgery-related charge, resulting in a 15-month jail sentence on Thursday (23 May).

Chen, a Cambodian national originally from Fujian, China, is the seventh individual convicted in the case in a Singapore court. He is also wanted by China authorities over fraud allegations.

Chen faced a total of 10 charges, including four for money laundering. The remaining six charges are forgery-related, as reported by Singapore state media CNA.

Following his arrest on 15 August last year in an islandwide operation by Singapore authorities, over S$23 million in assets were seized from Chen, with approximately 90% – or S$21.3 million – to be forfeited to Singapore.

Chen’s forfeited assets include an apartment in the River Valley area worth more than S$10 million, cryptocurrencies with an estimated value of more than S$1.8 million; over S$8 million in bank accounts, more than S$1 million in luxury watches, and S$2.2 million in cars.

The court heard that Chen paid for false documents from a person via WeChat to submit to Standard Chartered in response to the bank’s queries about the source of his funds.

In September 2019, Chen transferred US$100,000 to his girlfriend Wang Qiujiao’s bank account.

In July 2021, he arranged for two remittances of around S$3 million to be sent from Indonesia to his account. Standard Chartered then made two related queries regarding the source of these funds.

To address these queries, Chen helped create false documents. One of these was an income certificate purportedly issued by a company in China called Sunshine Coast.

The certificate claimed that Wang had been employed by Sunshine Coast while she was in China between 2010 and 2012, earning 800,000 yuan (US$113,000) during this period.

Wang admitted during investigations that she was never employed by Sunshine Coast.

When requesting the forged document, Chen provided the details and instructed how they should appear on the document, the court heard.

He agreed to pay 200 yuan for the document, which was dated 11 July 2021, and submitted it to Standard Chartered.

Additionally, Chen instructed the creation of three other forged documents, which were also submitted to the bank.

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Billions in open air Singapore???
How Or Who was Protecting These Goons.
There must be Someone???
WHO—- ????

After Teo Chee Hean kena backside torn in China—- these guys are being let out easy.
What’s going to happen to The Billions.

So young and very Highly TALENTED indeed.

Amassed homongous amount of money no one in histroy had ever done so or dreamed of.

Fooling various foreign governments and complex fraudalent negotiations is a skill one could only admire.

Not a sweat on their brow or toiling in the sun is needed.

Parents must be very proud of them for their extraordinary accomplishment.

Only China can from the first tour guide Yang Ying con-artist of of Gerald Drive GCB.

Their PRC President XJP will be waiting for them for Round 2 …

They will forfeit the 3$bil worth of money & assets..
Is that why their sentences are “light”?
So a deal was brokered .
Make sure their PR and NC status are also cancelled..

Many criminals does charity works to make them look good. Doesn’t mean anything, the damages they done is far greater than these little good they did.

Don’t try to justify the mistake of allowing them here by quoting some cock and bull balls charity they are doing.

So this is part of the make up of Good Govt governance.

“The prosecution cited several aggravating factors, such as Chen’s “calculated and intentional” use of forged documents, the “substantial” amount involved in his money laundering offences, and its transnational nature” Comment 1: and yet, the idiot prosecutor asked for a jail term of between 15 and 17 months? Since the final sentence is 15 months and backdated to 15 Aug 2023. Therefore he should go free within a month or slightly over a month based on good behaviour and having served two thirds of his sentence. Comment 2: our esteemed idiot of a prosecutor surely put on a desperate fight to… Read more »

After all the remand remission, he’ll be out soon.

Aiya, with remission will be out of jail in no time and become a free man. Just that after deportation, will China ask for him back and present him a few bullets to his chest