$3b money laundering case: Last of 10 people to plead guilty given longest jail term of 16 months

Cypriot national Wang Dehai agreed to forfeit more than $49 million, or about 90 per cent of his seized assets, to the state.

Another five charges, including three counts of making a false statement to the Ministry of Manpower’s Controller of Work Passes, were taken into consideration during sentencing. The court heard that since 2012, Wang was involved in an illegal remote gambling business based in the Philippines that targeted punters in China.

Through their investigations, the police identified individuals involved in this online gambling business, said the prosecutor. On his money laundering charge, the prosecution said Wang possessed a silver Rimowa suitcase that contained more than $2.2 million in cash.He initially claimed the suitcase belonged to his wife, but later admitted the cash belonged to him when instructed to open the suitcase.

DPP Ngia said Wang could not substantiate any of his claims about the sources of the cash, and failed to satisfactorily account for how he came by the money.The DPP added that Wang’s offences involved a transnational syndicate and that his conduct reflected a broader abuse of Singapore’s financial infrastructure.Three more men in $3 billion money laundering case deported to Cambodia, Japan

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