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Money laundering case: Assets frozen exceed $3b; 2 more suspects sought

2024-01-19 00:00:00.0 海峡时报-新加坡原网页

SINGAPORE - The assets seized in Singapore’s largest money laundering case that saw 10 foreigners arrested are now worth more than $3 billion.

The police said on Jan 19 that they have issued prohibition of disposal orders on another 55 properties and 15 vehicles. An additional 189 luxury bags, 34 pieces of jewellery and five luxury watches were also seized.

This now brings the assets confiscated by the authorities to 207 properties, 77 vehicles, more than $1.45 billion in bank accounts, and more than $76 million in cash of various currencies.

Thousands of bottles of liquor and wine, cryptocurrency worth more than $38 million, 68 gold bars, 483 luxury bags, 169 branded watches and 580 pieces of jewellery have also been seized in total.

Separately, warrants of arrest and Interpol Red Notices have been issued against two more suspects – Cambodian nationals Su Yongcan, 33, and Wang Huoqiang, 29 – for money laundering offences.

A Red Notice is a request to law enforcement worldwide to locate and provisionally arrest a person pending extradition, surrender, or similar legal action.

The police said the pair had left Singapore before arrests related to the case began on Aug 15, 2023.

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Prosecutors said in October 2023 that Su Yongcan is the brother-in-law of Wang Dehai, one of the 10 accused. In arguing against bail for Wang Dehai in October, the prosecutor said Su Yongcan and Wang Huoqiang – who is Wang Dehai’s cousin – were accomplices who might help him abscond.

The Straits Times reported on Aug 21, 2023, that Su Yongcan and Wang Huoqiang were said to be on the run from the Chinese authorities over illegal gambling activities in 2018.

On Jan 19, the police said Su Yongcan, who previously held a passport issued by the People’s Republic of China (PRC), had more than $16 million in cash and other foreign currencies seized from him.

The police also froze his bank accounts with a total balance of more than $145 million. Prohibition of disposal orders for seven properties and 10 vehicles were also issued in relation to Su Yongcan.

In relation to Wang Huoqiang, who also previously held a passport issued by the PRC, the police seized about $188,000 in cash and other foreign currencies. A prohibition of disposal order was issued for one vehicle. His bank accounts, with a total balance of more than $5 million, were also frozen.

Those with information on Su Yongcan or Wang Huoqiang’s whereabouts should call the police hotline on 1800-255-0000.