$3b money laundering case: 7th man jailed for 15 months, forfeiting $21.3m of assets to state

SINGAPORE – Cambodian national Chen Qingyuan, 34, who is wanted in China for fraud, was jailed for 15 months on May 23 over his role in Singapore’s largest money laundering case.He is the first of the seven foreigners convicted so far to appear in court in person. The other six had attended court proceedings via video link.including four money laundering charges. His six remaining charges are forgery-related.

Chen’s forfeited assets include over $8 million in bank accounts, more than $1 million in luxury watches and $2.2 million in cars. When the bank inquired about his source of funds, Chen conspired with his girlfriend to submit a forged income certificate to the bank. DPP Foo said Chen was involved in remote gambling offences abroad and had transferred these proceeds to Singapore.

Defence lawyer Gary Low sought 14 months’ jail for his client, saying many of the offenders in this case were sentenced to spend 14 months behind bars, and Chen’s case “doesn’t rank anywhere near the top”.

Singapore Latest News, Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

$3b money laundering case: 7th man jailed 15 months, forfeiting over $20m of assets to stateHe was convicted of two money laundering charges and one forgery-related charge.
Source: The Straits Times - 🏆 8. / 63 Read more »

MHA to strengthen laws to detect and prosecute money launderers more effectively: ShanmugamSentences meted out in $3b money laundering case comparable to those in other jurisdictions, he says.
Source: straits_times - 🏆 5. / 69 Read more »

$3b money laundering accused Su Baolin handed 3 new chargesHe faces 13 charges in total.
Source: The Straits Times - 🏆 8. / 63 Read more »

$3b money laundering case: Fourth man gets 14 months’ jailSu Baolin, one of the 10 foreigners in Singapore’s largest money laundering case, made millions from his role in illegal online gambling operations abroad, said prosecutors. He got the money into Singapore by funnelling it through his accomplices and cryptocurrency...
Source: thenewpaper - 🏆 7. / 63 Read more »

$3b money-laundering case: Fourth man gets 14 months’ jailHe supervised illegal online gambling websites and funneled the money into Singapore through accomplices and crypto platforms.
Source: The Straits Times - 🏆 8. / 63 Read more »

Fourth man in $3b money-laundering case sentenced to 14 months' jailSINGAPORE — Su Baolin, one of the 10 foreigners in Singapore's largest money-laundering case, made millions from his role in illegal online gambling operations abroad, said prosecutors. He got the money into Singapore by funnelling it through his accomplices and cryptocurrency platforms to make it hard for the authorities to detect his crimes.
Source: asiaonecom - 🏆 10. / 59 Read more »