Purchased passports, shell companies: What affidavits reveal about the accused in the S$2.8b money laundering case

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According to Commercial Affairs officer Seow Jing Min’s affidavits, Lin is in a romantic relationship with co-accused Zhang Ruijin and calls him “husband”. They have known each other for more than 10 years. Co-accused Su Haijin and Su Baolin are also her friends, by her own admission, the IO said. Lin has gone on holiday with Zhang and the two Sus and their respective wives. Lin, whose value of assets seized is among the highest of the 10 accused, has one Chinese passport that remains unaccounted for. She holds an employment pass for her position of assistant chief investment officer with locally registered company Golden Eagle Family Office. The IO said the company was set up to manage Lin’s own wealth, and that she makes the investment decisions. Lin also has registered businesses in Singapore called Eagle77 and Ban Tian Yao Catering Management, but the IO said they do not have any substantive operations, with Eagle77 set up solely to facilitate Lin’s purchase of property in Singapore. Lin has a 15-year-old daughter who lives with a helper on Beach Road, in the same building as Lin’s sister, Lin Xiaozhen. Lin lives in Sentosa, where she was arrested with her lover Zhang. Lin’s son is studying in the United Kingdom, and her parents live in China, while her siblings live in China and the United Arab Emirates. Lin has S$30.7 million in estimated wealth overseas, comprising six residential properties worth S$10 million in the UK, one property in the Philippines worth S$5.7 million, one property in Dubai worth S$3.7 million and bank accounts containing a total of S$11.3 million in Hong Kong, Macau and the UK. According to Lin’s Chinese passport, she is from Fujian. She obtained passports from Dominica and Cambodia after paying an agent US$130,000 and US$160,000 respectively, the IO said. ZHANG RUIJIN Age: 45 Nationality in charge sheets: Chinese Passports: China, Saint Kitts and Nevis Charges he faces: Two forgery charges over Macau property and loan agreement for funds from a Hong Kong company Assets seized from him: S$109.8 million in cash, bank accounts, four real estate properties, four vehicles, as well as liquor, gold and luxury watches Defence: Mr Loo Choon Chiaw, Mr Chia Foon Yeow and Mr Lewis Lew Jia Rong from Loo & Partners According to affidavits from Commercial Affairs Officer Daniel Neubronner, the S$109.8 million in assets seized or frozen from Zhang are from two companies in his name: Golden Eagle Assets and Golden Eagle Family Office. Zhang has three passports – two from China and one from Saint Kitts and Nevis – and his newer Chinese passport is unaccounted for. He claims to not remember where it is kept, the IO said. He obtained citizenship and a passport from Saint Kitts and Nevis upon purchasing a property worth US$250,000 there, the IO said. Zhang has an employment pass for the position of chief investment officer with local company Golden Eagle Family Office. According to Zhang’s statement, the company was primarily set up for him to obtain an employment pass in Singapore and manage his own wealth, said the IO. In other words, the company is used solely to make investment decisions on Zhang’s own wealth. Zhang’s son and daughter study in Japan and China respectively, while his parents and two older brothers live in China. According to Zhang, he has about S$41 million in overseas wealth. This includes S$93,000 in Chinese bank accounts, S$931,000 in cash in a Chinese trading company he partly owns, and about S$2.8 million in shares bought with funds held in a Hong Kong bank account. He also has about S$37 million worth of shares in a Philippine real estate development company. Zhang is linked to a man dubbed Suspect X, who is wanted by Singapore police. The Singapore Police Force (SPF) is seeking information from overseas law enforcement agencies about Suspect X’s locations and activities, and seized or frozen properties worth S$127 million from this suspect. Zhang is also friends with co-accused Su Haijin and played golf with Su Baolin, going on overseas vacations with the pair and their wives along with his lover Lin Baoying. According to Zhang’s Chinese passports, he is originally from Fujian. WANG DEHAI Age: 34 Nationality in charge sheets: Cypriot Passports: Vanuatu, Cyprus, Cambodia, China Charges he faces: Two charges of laundering gambling proceeds by buying a unit in The Marq, possessing S$2.3 million in illegal gambling earnings Assets seized from him and his wife: S$51 million in cash, cryptocurrency, bank accounts, real estate and vehicles Defence: Ms Megan Chia of Tan Rajah & Cheah According to the Assistant Superintendent of Police Lim Yong Khiang, who is on Wang’s case, Wang was recruited into the online gambling business operating in the Philippines in 2012. He first worked in customer service dealing with punters before becoming a promoter, posting advertisements for online gambling on popular websites, ASP Lim said. He was purportedly paid in cash or through bank transfers. Wang has been wanted by Chinese authorities for illegal online gambling activities since 2017, ASP Lim charged. Wang’s wife and three children, like him, are Cypriots. His parents live in China, and Wang has substantial wealth overseas. This comprises S$1.06 million in two houses in Xiamen, about S$2.9 million in a house in Cyprus, and more than S$10 million in Hong Kong bank accounts, ASP Lim said. Wang is linked to four other alleged accomplices who are wanted by the SPF. Two of them are wanted by Chinese authorities for illegal online gambling activities since 2017, and two of the four who are at large are Wang’s relatives, ASP Lim said. Wang claimed in his own affidavit that he and his wife began exploring moving their family to Singapore so their three children could have a better education. He also said he and his wife intended to relocate their parents to Singapore in the near future. VANG SHUIMING Age: 42 Nationality in charge sheets: Turk Passports: China, Vanuatu, Cambodia, Turkey Charges he faces: Five for possessing criminal benefits worth S$2.4 million from unlicensed moneylending in China and of using a forged document Assets seized from him and his wife: More than S$200 million, including cash, bank accounts, 15 properties and vehicles. Defence: Mr Wendell Wong, Mr Andrew Chua and Ms Yang Xinyan from Drew & Napier According to the lead investigation officer on Vang’s case, Mr Teh Yee Liang, Vang is wanted by Chinese authorities for illegal online gambling activities. His brother, Wang Shuiting, who is at large, is also wanted by Chinese and Singapore authorities, said Mr Teh. Wang’s wife, son and daughter also have passports from Turkey, China and Vanuatu. Vang has other family members based in the UK and China. Mr Teh said Vang claimed to have obtained the passports from Turkey and Vanuatu by making financial contributions. He claimed to have acquired Cambodian citizenship by donating money to the Cambodian government, who “offered” him a passport, Mr Teh alleged. This passport is missing. Vang also has three land plots in Cambodia with an estimated value of US$18 million. Other than this, he has wealth overseas, including 32 million yuan in investments in Chinese private companies, US$500,000 in investments in Turkey, two condominium units in Xiamen, China, worth 20 million yuan, a factory unit in Xiamen worth a few million yuan, HK$2 million in a Hong Kong bank account and US$110,000 in USDT tokens. Vang has multiple links to other wanted suspects, Mr Teh said. These include his brother Wang Shuiting, a suspect who has had more than S$260 million in assets seized by Singapore police, and another relative who has been convicted for illegal gambling activities in China. Two days after Vang was arrested in August this year and while he was still remanded, more than US$2.8 million worth of cryptocurrencies were withdrawn from his Binance account. This was purportedly by “a person of interest”, Mr Teh said. Vang moved his family to Singapore in 2019 and has stayed here since. His two older children are studying in international schools here, while his youngest is an infant. Most of the 10 accused in the case are now at the pre-trial conference stage, which cannot be attended by the public or the media. This is with the exception of Su Wenqiang, who is set for a bail review in November, and Chen Qingyuan, who changed lawyers from Mr Mark Tan to a team from Drew & Napier led by Mr Gary Leonard Low. Chen will return to court in November for a further mention.

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