ComChest and the President's Challenge have since filed police reports and suspicious transaction reports.
ComChest was set up in 1983. It currently supports 100 social agencies and assists almost 100,000 people each year. The 10 suspects are Su Baolin, Su Haijin, Chen Qingyuan, Su Wenqiang, Lin Baoying, Zhang Ruijin, Wang Dehai, Su Jianfeng, Vang Shuiming and Wang Baosen. ST ILLUSTRATIONS: CEL GULAPAare 152 properties and 62 vehicles with an estimated value of more than $1.24 billion, money in bank accounts amounting to more than $1.45 billion, and cash of various currencies worth more than $76 million.
Hours after ST’s article was published, Rainbow Centre acknowledged it had received $72,450 from three of the 10 accused, and will be reviewing its policies. The COC encouraged charities to have vigorous financial controls in place, and to be transparent in their activities in order to protect themselves.How $2.8b money laundering probe affects S’pore’s economy, property and charities
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