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First suspect to plead guilty in S’pore’s money laundering case convicted

April 2, 2024 Singapore Crime & Legal

The first defendant in the largest money laundering case in Singapore, Su Wenqiang, 32, was found guilty on 11 charges, including money laundering, possessing earnings from illicit remote gambling, and using false information to get employment credentials.

Hearings in district court are in progress, with a focus on sentencing.

A maximum of 11 months in jail is what Su’s defense lawyers, Mr. Sameer Amir Melber and Mr. Nandwani Manoj Prakash from Gabriel Law Corporation, are fighting for, while deputy public prosecutors Edwin Soh, Sarah Thaker, and Grace Teo are asking for.

The lawsuit’s global reach has been shown by the seizure or freezing of assets valued at over S$3 billion.

Su was one of 10 persons taken into custody by the police in parallel operations in August. About S$5.9 million in cash, cars, luxuries, and alcohol were taken from him by the authorities.

During court procedures, Su’s involvement in an illicit remote gambling enterprise located in the Philippines was exposed. Su continued his illicit activities even after moving to Singapore in 2021, often visiting the Philippines on business trips.

He admitted to obtaining S$601,706 in illegal profits from unlicensed remote gaming services and shelling out almost S$500,000 for the purchase of a Mercedes in January 2022. In addition, he admitted to a long list of other offenses, such as document fabrication and money laundering.

Two more accused, Su Haijin and Wang Baosen, have expressed a desire to enter a guilty plea. Pre-trial conferences are being held in the cases of the seven remaining defendants.

Su Yongcan and Wang Huoqiang, two citizens of Cambodia, are now wanted by the police since they left Singapore before the searches.

Penalties for such offenses include a S$500,000 fine, 10 years in prison, or both.

Original story by: Today Online

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