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Friday, June 21, 2024
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INDIVIDUAL CONVICTED FOR RESISTING ARREST AND MONEY LAUNDERING CHARGES DURING ANTI-MONEY LAUNDERING INVESTIGATION

On August 15, 2023, Singaporean authorities conducted a massive, island-wide raid in connection with an investigation into a group of foreign nationals suspected of funneling illicit funds from their overseas organized crime activities into the country.

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The raid resulted in the arrest of 10 foreign nationals, including Su Haijin, a 41-year-old Cypriot citizen.

Several charges faced by the accused

Su Haijin faced several charges, including:

  • One count of resisting lawful apprehension under Section 225B of the Penal Code 1871
  • Three counts of money laundering offenses under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act (CDSA)
  • Three counts of conspiring with Wang Junjie to use forged documents under Section 471 read with Section 109 of the Penal Code
  • Four counts of conspiring with Wang Junjie to make false representations under Section 424A read with Section 109 of the Penal Code
  • Three counts of false declaration under the Employment of Foreign Manpower Act 1990

On April 4, 2024, Su Haijin was found guilty and sentenced to 14 months in prison for one count of resisting lawful apprehension under Section 225B of the Penal Code and two counts of money laundering under Section 55 of the CDSA. The remaining charges were considered during sentencing.

The State Court also ordered the forfeiture of over S$166 million (approximately 95%) of the assets seized from Su Haijin, his wife, and his companies.

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Penalties for these offenses include imprisonment for up to one year, a fine, or both for a Section 225B Penal Code violation, and a fine not exceeding S$150,000, imprisonment for up to 3 years, or both for a Section 55 CDSA violation.

Background of the case

During the raid, Su Haijin attempted to escape by jumping from his second-floor balcony and hiding in a nearby drain.

He was arrested and found in possession of cash and other assets believed to be derived from criminal activities. The Police seized and froze approximately S$174 million in assets, including cash, properties, jewelry, luxury items, and alcohol from Su Haijin, his wife, and his companies.

Investigations revealed that Su Haijin was involved in illegal remote gambling operations abroad. The charges against him primarily concern Yihao Cyber Technologies Pte Ltd, a Singapore-incorporated company owned by Su Haijin.

Between January and October 2021, the company received payments from an overseas firm engaged in remote gambling targeting foreign nationals, generating revenue from these operations. These payments were held in Yihao Cyber Technologies’ bank accounts with UOB and DBS bank, totaling S$999,920.00 and S$438,947.20, respectively.

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Despite being the director and sole shareholder, Su Haijin could not provide a satisfactory explanation for the source of these funds. Investigations showed that the company had no legitimate business operations in Singapore.

Statement from Director of the Commercial Affairs Department

Director CAD, Mr. David Chew, stated:

“Our swift and firm law enforcement efforts in such complex investigations demonstrate our commitment to tackling transnational crime in an increasingly interconnected world.

Reputable financial systems rely on their integrity. To protect Singapore’s financial system, the Police will spare no effort to detect abuse, detain the criminals, and deprive them of their ill-gotten gains.

Criminals will seek to abuse our financial system by creating complex corporate structures to receive their criminal proceeds from overseas, launder it, and enjoy it here with their families.

The Police will take tough and decisive action to afford these criminals no safe harbor for either themselves or their wealth.

Asset confiscation is a key priority in Singapore and beyond seeking imprisonment terms for their crimes; we will take all steps within our laws to deprive criminals of their proceeds of crime.”

One of the accused, Su Wenqiang, a 32-year-old Cambodian national, was previously convicted and sentenced for money laundering offenses related to this case.

Court proceedings for the other eight accused are ongoing.

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