Billion-dollar money laundering case: 14 months’ jail for man who possessed car, S$777,000 from criminal proceeds

SINGAPORE: Another of 10 suspects involved in a S$ 3 billion ( US$ 2.2 billion ) money laundering case was sentenced to 14 months ‘ jail on Monday ( Apr 29 ). &nbsp,

Su Baolin, a 42- year- ancient Thai, had pleaded innocent to three out of 13 costs. &nbsp,

One charge is brought against Wang Junjie for conspiring with her to allegedly tell the Inland Revenue of Singapore ( IRAS ) the company’s 2021 financial year’s true and accurate values of its revenue, gross profits, and trade receivables. &nbsp, Su was listed as the chairman of the company. &nbsp,

Another cost is for possessing S$ 777, 220.50 in money, suspected to be advantages of legal do, at 34A Nassim Road. &nbsp,

He also admitted guilt on the fee that he had a vehicle, a white Toyota Alphard Hybrid 2.5SR C-Pack CVT, that he claimed was benefiting from criminal behavior. &nbsp,

The remaining allegations may be taken into account when determining his punishment. &nbsp,

In an island-wide authorities activity aimed at preventing money-laundering in August 2023, Su and nine others were detained. &nbsp,

In connection with his situation, more than S$ 3 billion in property have been seized or frozen, making it likely to be one of the biggest money laundering businesses ever to take place. &nbsp,

Since April, three people, Wang Baosen, Su Haijin and Su Wenqiang have pleaded guilty and been sentenced to jail terms of between 13 and 14 weeks. &nbsp,

Su is the third case to be heard by the authorities. &nbsp,