Singapore’s headline money laundering case has sentenced its fourth individual to jail for more than one year.
Su Baolin, 42, has been sentenced to 14 months in prison for one count of abetting another to make false representations and two counts of money laundering, according to a statement by the Singapore police. Another 10 charges were also taken into consideration for the sentencing.
Upon investigation, Su was found to have received benefits from illegal activities, including unlawful remote gambling abroad. He also conspired with one Wang Junjie to submit false financial information to increase his chances of obtaining permanent residency status in Singapore. Police initially seized about S$100 million ($73 million) worth of assets including cash, properties, jewelry, luxury items and alcohol from Su, his wife and his companies after the August 2023 raid.
Total Jail Time
Four of the 10 arrested individuals, including Su Wenqiang, Su Haijin and Wang Baosen, have been delivered sentences. In total, they will serve 54 months of jail time.
«The Police take a serious stance against any person who may be involved in money laundering and deception that compromises the integrity of Singapore’s financial system,» the statement said. «We will continue to take tough enforcement actions against perpetrators, who will be dealt with in accordance with the law.»
