THE last of the 10 foreign nationals embroiled in Singapore’s largest money laundering case has indicated that he intends to plead guilty on Jun 6, court records on Friday (May 24) show.
Su Jianfeng, a Vanuatu passport holder, currently faces 12 charges related to forgery and money laundering.
He allegedly submitted forged documents to OCBC and Maybank Singapore to cheat the two financial institutions into believing he had legitimate sources of wealth or to explain certain deposits into his bank accounts.
He also allegedly submitted false annual reports for a company, Xiamen Zhou Hang Mao Yi You Xian Gong Si, to Standard Chartered Bank on May 2023 and to Bank of Singapore in March 2022. The charge sheets indicated that he had intended to use these documents to show that Chen Qiuyan, his wife, had legitimate sources of wealth.
In August last year, Su was charged with possessing some S$17 million in cash, held in three safe deposit boxes at Certis Cisco Security, which were allegedly benefits from unlawful remote gambling activities.
Su is among 10 foreign nationals nabbed in an islandwide anti-money laundering blitz on Aug 15, 2023, that resulted in the authorities seizing or freezing more than S$3 billion worth of assets.
More than S$160 million of Su’s assets have been seized, including 13 properties, four vehicles and more than S$20 million in bank accounts.
In October last year, The Business Times had seen four cars, including two Rolls-Royces, a white Toyota Alphard and a red Porsche 911 Targa, being towed away by the authorities from a Good Class Bungalow (GCB) along Third Avenue. The GCB was where Su resided before his arrest.
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The Straits Times previously reported that Su allegedly worked with a Singapore-based businessman to sell properties in Dubai worth tens of millions of dollars to foreigners in Singapore, indicated a data leak uncovered by an investigative journalism group.
Su is represented by K&L Gates Straits Law’s N Sreenivasan and CNPLaw’s Ravindran Ramasamy.
Of the 10 foreign nationals involved in the case, seven have been handed jail sentences ranging from 13 to 15 months. Along with Su, two more – Lin Baoying and Wang Dehai – are expected to plead guilty.
