Southeast Asia

Singapore Seeks 2 More for S$3bn Money Laundering Case – CNA

 

Police in Singapore have issued arrest warrants via Interpol for two ethnic Chinese linked to a massive money laundering case involving a record number of assets that now total over S$3 billion (US$2.24 billion) in value, according to a report on Friday by Channel News Asia, which said Su Yongcan, 33, and Wang Huoqiang, 29, were traveling on Cambodia passports and fled the city state before police began to investigate the case in mid-August last year.

Ten other foreigners – all of Chinese origin but who held a range of passports from Cyprus to Caribbean and Pacific Island nations – were arrested in raids on August 15, the report said, several of whom were allegedly linked to a gambling operation in the Philippines and a scheme that generated funds from people in China. Illegal gambling proceeds were allegedly laundered in Singapore through the purchase of luxury properties, cars, plus jewellery, liquor, bags and watches.

Read the full report: CNA.

 

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Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years.

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