Former bankers Wang Qiming and Liu Kai are the latest charged in Singapore’s headline money laundering case. The two were reportedly ambitious performers in the inustry chase for Chinese wealth.
Wang Qiming and Liu Kai were criminally charged on August 15 in Singapore’s S$3 billion ($2.3 billion) money laundering scandal, marking the first financial professionals that face legal scrutiny in the case. Wang was slapped with 10 charges and Liu with one, involving various violations including forged documents and money laundering.
In a «Bloomberg» report citing various sources, additional details about Wang and Liu were unveiled including origins, educational background and career progress.
Wang Qiming
Wang, 26, graduated from the University of Melbourne in December 2019 with a Bachelor of Commerce degree before obtaining a Masters of Science with a Financial Technology specialization from Nanyang Technological University in Singapore in 2020. Interestingly, he originates from Fujian, the same home province of all 10 convicted launderers.
He joined Citigold Private Client and his activities led to suspicious transaction reports filed against him by the bank.
Liu Kai
Liu, also known as Kelvin Liu, joined Julius Baer in Singapore in 2019 as an executive director after previously working at Credit Suisse. He would later be headhunted to join Goldman Sachs in the city-state where he worked for about two years.
According to anonymous sources, Liu, 29, was a good English speaker and was well paid for his age at Julius Baer, where he helped generate millions of US dollars in revenue.
