Billion-dollar money laundering case: Suspect gets 6 new charges over fake property sale, loan agreement papers
Source: TODAY
SINGAPORE -- Su Jianfeng, one of the 10 suspects involved in Singapore's billion-dollar money laundering probe, was on Thursday (May 16) slapped with six new charges.
The fresh charges are related to his alleged fraudulent submission of forged documents to banks.
This brings the total number of charges that the 36-year-old faces to 12.
In the latest charges, Su had allegedly forged and submitted as genuine multiple property sale contracts to two banks -- Oversea-Chinese Banking Corporation (OCBC) Bank and Maybank Singapore.
He had fraudulently used a property sale contract for the sale of "Emaar Square Building 2 Property Number 408" to one Zhou Weihong, and submitted it as genuine to OCBC Bank.
This was allegedly done to deceive the bank into believing that deposit of S$2,999,980 from Wecord Rich Trading Company on May 28, 2021 was from the sale of the said property.
In another charge, Su allegedly used the same method for the sale of "Residences_E2 Property Number 2302" to a Lin Zhenghu, and submitted the contract to Maybank Singapore.
It involved a deposit of S$1,029,970 and S$969,970 from a company called Tuo Xin You in December 2020, disguised as proceeds from sale of the property.
According to court documents, he had done so to deceive the banks that he had legitimate sources of wealth, and into believing that the deposits were from the sale of the properties.
Su also submitted two loan agreements to two companies as genuine documents to OCBC Bank, allegedly intending to deceive the bank that the deposits were from the loans.
The first loan agreement was between him and a company, Sheng Yu, for a loan of about S$2.5 million, which was then submitted to OCBC Bank.
He allegedly intended to deceive the bank to believe deposits of S$1,029,990, S$499,990 and S$969,990 from Sheng Yu were delivered from the loan.
A second involved an agreement between Su and another company, Sheng Big, for a loan of about S$2 million.
Deposits of S$1,109,990 and S$889,990 on Nov 10, 2020 were delivered to OCBC Bank.
Su, who is listed as a Vanuatu national in charge sheets, initially faced four charges in August 2023 for possessing proceeds from illegal remote gambling.
This comprised S$17 million stored in three safe deposit boxes and S$550,903 in cash.
He was arrested on Aug 15 that year in a Good Class Bungalow along Third Avenue near Bukit Timah.
On Feb 8, 2024, he was handed two other charges for forging annual reports of a Chinese company, Xiamen Zhou Hang Mao Yi You Xian Gong Si, and submitted them as genuine documents to Standard Chartered Bank and Bank of Singapore.
Since the arrest of the ten suspects across multiple locations in August last year, the total value of assets seized or frozen has risen to over S$3 billion.
On Tuesday, Vang Shuiming, one of the suspects in the case, was sentenced to 13 months and six weeks' jail, making him the sixth suspect to be dealt with by the court.
Five others pleaded guilty before him and were sentenced to between 13 and 15 months' jail.
Su's matter has been fixed for pre-trial conference on May 28.