Prosecution seeks longest jail term so far for 9th offender in S$3 billion money laundering case

Prosecution seeks longest jail term so far for 9th offender in S$3 billion money laundering case

Su Jianfeng is the longest term an accused man has been sentenced to in the S$ 3 billion money laundering investigation, which found criminals with Chinese roots converting their unlawful international gains to comfort residences and products in Singapore.

Su, 36, is listed as a Vanuatu federal in court papers but was born in Fujian, China, according to his seized documents.

He admitted guilt on one count, each involving obtaining S$ 550, 903, and using a fraudulent estate sales agreement to explain the origin of about S$ 2 million deposited into his Maybank accounts. Another 12 fees may be taken into consideration for punishment.

HOW SU WAS ROPED INTO THE ILLEGAL BUSINESS

An “unknown Chinese man” introduced Su to an unlawful remote gambling business in 2013 according to the court’s investigation.

Online gaming websites were a part of the business, and punters from China could get them using their phones for the purpose. &nbsp,

Su joined the organization, working originally from Kuala Lumpur, Malaysia, before going to Manila, Philippines. He ran the platforms ‘ advertising and overseen the staff members who ran and maintained the gambling sites.

Su moved his children to Singapore in August 2019 because he wanted them to examine it, and Su followed them a year later.

From 2021, the Commercial Affairs Department of the Singapore Police Force has been receiving information about possible income fraud and the use of forged papers to conceal the money’s origin in Singapore bank accounts.

Studies pointed to a group of unusual citizens, and the authorities launched islandwide continuous attacks on Aug 15, 2023, to buy the defendants, including Su.

They raided Su’s residence at Third Avenue, seizing S$ 550, 903 in income from a safe in his master bathroom.

The money came from a Philippine-based illegitimate gambling operation that targeted Chinese gamblers.

In Singapore, Su had a bank accounts with Maybank. In March 2021, Maybank’s Financial Murder Compliance System sent an email to Su’s relationship director at Maybank, highlighting two suspicious payments.

Su had received a total of about S$ 1 million on Dec 2, 2020, and another amount of S$ 969, 970 on Dec 3, 2020 into his Maybank consideration from Tuo Xin You Limited.

The economic crime compliance system gave Su’s relationship administrator the task of getting these two deposits ‘ supporting documents.

Su claimed that the income was allegedly the result of the sale of a Dubai home to a Tuo Xin You Limited owner. He provided a house purchase contract to support his claim, which was later discovered to be false.

Su had misled Maybank about the source of the money because he did not want them to find out who the true cause was.

About S$ 187 million worth of assets linked to Su or held under his sister’s name have been seized- including income, properties, vehicles, luxury goods, crypto and beer.

The properties are for S$ 7.1 million and involve flats in Newton, Tanglin and Beach Road, as well as shophouses in Telok Ayer and Chinatown.

Su has agreed to have the condition forfeit at least 95 % of his seized property as part of his plea bargain.

Su’s attorneys on Thursday requested 17 to 18 months in prison, arguing that he admitted to breaking his guilty plea earlier than the others and that his acts involved more money.

Su may be sentenced on Monday.

Of the 10 arrested and charged in the sensor, eight have been sentenced to jail terms of between 12 and 15 times. The next accused people, Wang Dehai, is set to plead guilty on Friday.