Zhan Guotuan, a Singapore permanent resident at the time of the offences, was overseas when he had a warrant of arrest issued against him in 2022.
Zhan Guotuan, 59, a Singapore permanent resident at the time of the offences, was overseas when he had a warrant of arrest issued against him in 2022.On April 16, he pleaded guilty to an offence under the Residential Property Act linked to one of the houses identified in court documents as Z. At the time of the offences in 2007, Zhan was a shareholder at two firms – Alphaland International and Xin An Technology Group.The business plan was to buy landed properties in Singapore, demolish those houses, develop condominiums on the land, and sell the condominium units for profit.However, the prosecution said that the “prime mover” in this case was Zhan’s trusted business associate, Tan Hui Meng, a Singaporean.
According to Tan, the estimated profit from the land redevelopment in East Coast Road was over $50 million, and he was to get 20 per cent of the profits from two of Zhan’s firms. According to court documents, the other house was bought in the name of Guan Aimei, the wife of one of Alphaland’s employees. Its legal title was transferred to her on July 2, 2007, and she was earlier fined $5,000.
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