First Suspect in Billion-Dollar Money Laundering Case is Convicted; Sentenced to 13 Months’ Jail

The first suspect in the country’s largest money laundering case has been sentenced.

On 2 April 2024, Su Wenqiang, 32, received a 13-month jail term after pleading guilty to a series of charges.

He admitted to 11 charges encompassing money laundering, possession of illegal gambling proceeds, and deceit in obtaining work passes.

His illegal activities were part of a broader case that saw over S$3 billion in assets either seized or frozen, signifying one of the largest crackdowns on money laundering not just in Singapore, but globally.

Lest you’ve forgotten, authorities arrested Su and nine others during coordinated raids last August, with Su being caught in a prestigious area of Bukit Timah.

In total, more than S$5.9 million worth of cash, vehicles, luxury goods, and liquor was confiscated from Su, all of which he has now forfeited to the state.

More information about his involvement in the case have been revealed, too.

Su’s Involvement and Proceedings

Su’s guilty plea detailed his involvement in an illegal online gambling operation targeting users in China from the Philippines, where he managed the site and its bets.

Despite relocating to Singapore in 2021 for his children’s education, Su remained active in the gambling enterprise, regularly commuting to the Philippines.

In June 2023, he arranged to receive S$1 million in criminal proceeds, of which S$601,706 was later seized during a police raid.

Su also used illicit funds to purchase a luxury vehicle and had previously received nearly S$5 million from the gambling business.

Additional charges considered in his sentencing included laundering money through luxury purchases and falsifying employment and marriage documents.

The Court’s Decision and Ongoing Investigations

The prosecution called for a sentence between 12 to 15 months to serve as a deterrent against using Singapore as a laundering hub.

Su’s defense, citing the total forfeiture of his assets as a significant penalty, requested a lighter sentence.

Ultimately, Senior District Judge Ong Hian Sun sided with the prosecution’s emphasis on deterrence, sentencing Su to 13 months.

The court also heard that two more suspects plan to plead guilty, while others are in pre-trial stages or sought by the police.

They are Su Haijin, whose hearing is on Thursday (4 April), and Wang Baosen, who will appear in court on 16 April.