Singapore has delivered the second conviction in one week for the $2.2 billion headline money laundering case.
Su Haijin has been convicted and sentenced to 14 months in prison in Singapore, according to a police statement. The 41-year-old Cypriot national was charged with one count of resisting, three counts of money laundering, three counts of conspiring to forge documents, four counts of conspiring to make false representations and three counts of false employment declaration.
The court has ordered the forfeiture of more than S$166 million ($123 million) of the S$174 million worth of assets previously seized, which includes cash, properties, jewelry, luxury items and alcohol from Su, his wife and his companies.
Case Background
With regards to Su’s first offense of resisting arrest, the statement noted that he had jumped from off his house's balcony on the second floor during the August 2023 police raid. Thereafter, he was found hiding in a drain nearby while attempting to escape.
On forged documents and false representations, Su was found to have conspired with Wang Junjie. Wang is a director, shareholder or secretary of more than 200 companies, including nine that are related to three of the arrested suspects in the laundering case, according to a «Bloomberg» report.
Remote Gambling
In addition, the police probe found that Su was involved in unlawful remote gambling activities abroad.
Between January and October 2021, Yihao Cyber Technologies Pte Ltd – an incorporated company owned by Su – received payments from an overseas firm that was involved in remote gambling operations targeting foreign nationals. These payments subsequently found their way into bank accounts at UOB and DBS amounting to S$999,920 and S$438,947.20 respectively.
Singapore has delivered its second conviction in the $2.2 billion money laundering case following the sentencing of Su Wenqiang to 13 months in jail earlier this week.
