$3b money laundering case: Man jailed 13 months, 6 weeks, forfeits highest amount of assets seized

Vang Shuiming was sentenced to 13 months and six weeks’ jail after pleading guilty to two counts of money laundering and one count of submitting a forged document to a bank.

Also known as Wang Shuiming, the Turkish national who is originally from China is one of 10 foreigners arrested in a money laundering probe in August 2023 that saw more than $3 billion in cash and assets seized.Deputy Public Prosecutor David Koh told the court that in 2021, Vang arranged for HK$299 million to be remitted from Indonesia to his Citibank Singapore account.

Vang told them his money came from three companies in China, and provided financial statements from these firms to substantiate his claim.Untangling the complex web behind S’pore’s biggest money laundering case Mr Wong said his client felt a profound sense of remorse and wanted to apologise to the court and to the Singapore Government.

The lawyer added that Vang had brought his entire family to Singapore around five years ago, including his three children and elderly parents.District Judge Sharmila Sripathy-Shanaz said Vang’s offences disclose an entrenched and concerted effort to deceitfully legitimise funds and circumvent checks.

Vang has been remanded for almost nine months since his arrest at a good class bungalow at Bishopsgate, near Orchard Road, on Aug 15, 2023. With one-third remission, he may be out of jail by early June.

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