Charges filed against individuals linked to one of Singapore’s largest money laundering cases.
SINGAPORE: Three men, aged between 26 and 41, are set to face court charges on Thursday (Aug 15) in connection with one of Singapore’s largest money laundering cases.
Two of the individuals, former bank relationship managers, had worked with convicted criminals Su Baolin, Vang Shuiming, and Lin Baoying—three of the 10 foreign nationals convicted and jailed for laundering illicit funds and other related offences. The third man, a personal driver, is associated with fugitive Su Binghai, who is currently on the run for his role in the money laundering scheme.
The charges relate to a group involved in laundering proceeds from overseas organised crime activities in Singapore. Some individuals are still being investigated, though they have not returned to Singapore to face charges.
Background of the Case
The money laundering investigation began in 2021, prompted by tips about a group of foreigners using forged documents to move illicit funds through Singapore. In August 2023, police arrested 10 individuals—nine men and one woman—across affluent locations in Singapore. These individuals, primarily from China, were linked to the money laundering operation.
The final convict was sentenced in June, and all offenders have since served their jail terms and been deported.
The Accused Individuals
First Bank Employee: A 26-year-old Chinese national employed as a relationship manager at a foreign bank in Singapore. His clients included Su Baolin and Vang. He is charged with 10 offences, including making a false loan agreement to deceive another bank regarding a deposit source and possessing nearly S$482,000 from Su Baolin without explaining its origin.
Second Bank Employee: A 35-year-old Chinese national, also a relationship manager, had Lin as a client. He faces one charge for submitting a forged tax document to facilitate the opening of a bank account in Switzerland.
Personal Driver: A 41-year-old Singaporean who worked as Su Binghai’s driver. He is charged with two offences: lying to the police about Su Binghai’s valuables and obstructing justice by disposing of four vehicles belonging to Su Binghai.
Government Response
David Chew, Director of the Commercial Affairs Department, emphasized that the laundering of criminal funds through Singapore’s financial system is taken very seriously. He stressed the role of banks as gatekeepers, with stringent compliance systems in place to detect and prevent the flow of illicit funds. Relationship managers, as the key interface between clients and banks, have a responsibility to ensure due diligence and must face the full force of the law if they assist in bypassing these measures.
