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.The accused in Singapore’s $3 billion money laundering case who faces the most number of charges has also forfeited the most amount of assets seized to the state.
Vang faced 22 charges in total – four counts of money laundering and 18 counts of submitting forged financial documents to banks. UOB Kay Hian and Swiss bank Bank Julius Baer & Co, whom Vang had accounts with, also queried him on his source of wealth. 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. Judge Sharmila added that Vang’s decision to surrender his assets is reflective of his contrition, and that she gave significant weight to this factor in sentencing.
Crime COURT & CRIME
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