8 Wanted People In $1-Billion Money Laundering Have Reportedly Fled Singapore

By
Chew Ming Hui
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Last Updated on 2023-08-29 , 11:18 am

Last week, ten foreigners were arrested for their suspected involvement in a $1 billion money laundering saga, with another 12 people assisting with investigations.

Eight others had police on their tail—perhaps now more than ever. These eight wanted individuals have allegedly fled Singapore.

Classic.

8 Wanted Individuals Have Reportedly Fled Singapore; Potential for Interpol Involvement

According to Lianhe Zaobao, these eight individuals wanted in connection with the $1 billion money laundering case have fled Singapore.

You know what that means. It’s time for Interpol to get involved.

While it has yet to be confirmed, past cases have seen the Singapore Police Force (SPF) applying for Interpol red notices to be issued in such situations.

Huh? Red Notice is simi?

Eh, don’t suaku leh. A Red Notice is a request to global law enforcement agencies to locate and provisionally arrest persons whom the Notices are issued against.

This means that you’ll be wanted no matter which corner of the world you’re hiding in.

Guess these eight wanted individuals better contact their “way too OP at Hide & Seek” childhood friend soon.

The Red Notice mainly contains information to identify the wanted person, such as their name and hair colour, alongside information related to the crime the person is wanted for.

Accused Persons Associated With Non-Existent Companies

Okay, so the eight wanted individuals might be gone, but at least we still have the ten accused persons right? What’s up with them?

The accused persons were charged in court last Wednesday (16 August) and had their first court hearing today (23 August).

You can read more about the accused persons’ first court hearing here.

Yet, there’s always more to know.

According to Lianhe Zaobao, it was discovered that seven of the accused persons are affiliated with 20 “shady” local companies—most of these companies are non-existent.

Only three of these 20 companies have properly registered addresses; the rest are either untraceable or have addresses registered to strange locations, including addresses belonging to completely unrelated companies or addresses in private residences.

That’s like using your friend’s NRIC number instead of your own on Singpass…

For instance, one of the accused persons, Su Haijin, otherwise known as “the guy that jumped off the second-floor balcony and fractured his arms and legs”, was found to be a director for two allegedly sham companies.

While both these companies have their addresses registered to Asia Square Tower 1, they can’t be found. Imagine getting “ghosted” by a company.

Anyway, you can read more about these companies’ strange “disappearance” here.

Did the Banks Involved in the Saga Fail to Comply with Regulations?

Although the banks implicated in the money laundering saga were the ones that flagged suspicious transactions made by the accused persons, it appears to be possible that these same banks might have lapsed in their compliance with anti-money laundering regulations.

Should there be lapses found, action will be taken by the Monetary Authority of Singapore (MAS) against these banks.

Regardless, MAS has stated that it might be premature to draw such conclusions at such an early stage.

This is especially given previous cases where individuals have indeed successfully deceived banks despite the banks’ compliance with regulations.

Perhaps the accused persons were just too good.

“We will continue to work closely with financial institutions to assess whether they have taken all reasonable steps to avoid the risks of money laundering or terrorist financing,” a MAS spokesperson added.

Here’s a simplified summary of the South Korea martial law that even a 5-year-old would understand:

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Chew Ming Hui
Email: [email protected]