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HomesingaporeBillion-dollar money laundering case: President’s Challenge got S$350,000 in donations, ComChest received...

Billion-dollar money laundering case: President’s Challenge got S$350,000 in donations, ComChest received S$30,000

SINGAPORE: The President’s Challenge and Community Chest have collectively received donations of more than S$380,000 (US$279,000) from individuals with names similar to those who have been charged in the billion-dollar money laundering case.

Ten suspects were arrested in an islandwide anti-money laundering probe in August this year. The value of assets seized or frozen has since snowballed to over S$2.8 billion from the original S$1 billion.

Both charities did not name the suspects who had contributed the donations.

President’s Challenge has identified donations amounting to more than S$350,000 from individuals whose names are similar to those charged, the charity spokesperson said in a statement on Wednesday (Oct 11).

In a separate statement on Wednesday, Charmaine Leung, managing director of Community Chest, also said that the charity received S$30,000 in donations from people with similar names to suspects charged in court with money laundering offences.

Both charities said in their statements that they have filed police reports and suspicious transaction reports (STR).

They also said that donations that have been disbursed to benefiting agencies will not be affected.

Both charities added that they are working closely with the Commissioner of Charities to determine how to treat the donations.

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Community Chest is the philanthropy and engagement arm of the National Council of Social Service (NCSS). It raises funds for more than 100 social service agencies.

The President’s Challenge was initiated by former President S R Nathan in 2000 to help the less fortunate.Second Minister for Home Affairs Josephine Teo said in parliament on Oct 3 that some of the arrested individuals made donations to charities in Singapore.

She said then that some charities had decided on their own to ringfence these donations and others have made police reports and planned to surrender the money to the police.

“The Commissioner of Charities will issue an advisory to encourage all charities to review their donor records to ascertain whether they have received donations from the arrested individuals and entities linked to them, and file the requisite suspicious transaction reports.”

This will also include advice to charities on how to handle the money, she added.

ASSETS AND CASH SEIZED

As investigations into the billion-dollar money laundering probe continue, the value of the assets and cash involved continues to grow.

Currently, the total value of the properties and vehicles seized is estimated at more than S$1.24 billion.

A total of 152 properties have been issued with prohibition of disposal orders. They include 94 residential properties and eight landed homes at Sentosa Cove where there are no restrictions on foreign ownership.

Twelve more vehicles have been seized since the probe was announced, making it 62 so far.  Among them are luxury car brands like Bentley and Rolls-Royce. 

More than S$1.45 billion has also been seized from bank accounts.

Also confiscated were cash, including foreign currencies amounting to more than S$76 million, and cryptocurrencies worth more than S$38 million.

In addition, the quantity of luxury goods seized has almost doubled to 1,004. They comprise 294 branded bags such as Hermes, Dior, Chanel and Louis Vuitton, 164 watches including Rolex and Patek Philippe, as well as 546 pieces of jewellery.

The 10 suspects

Su Haijin, a 40-year-old Cyprus national, arrested in a Good Class Bungalow (GCB) along Ewart Park in the Holland area.Vang Shuiming, a 42-year-old Türkiye national, arrested in a GCB along Bishopsgate in the Tanglin area. Zhang Ruijin, a 44-year-old China national and Lin Baoying, a 43-year-old China national, arrested in a bungalow along Pearl Island at Sentosa Cove. Su Baolin, a 41-year-old Cambodia national, arrested in a GCB along Nassim Road. Su Jianfeng, a 35-year-old Ni-Vanuatu national, arrested in a GCB along Third Avenue near Bukit Timah. Chen Qingyuan, a 33-year-old Cambodia national, arrested in a condominium along Leonie Hill Road in the River Valley area.Wang Dehai, a 34-year-old Cyprus national, arrested in a condominium along Paterson Hill in the Orchard area.Wang Baosen, a 31-year-old China national, arrested in a condominium along Tomlinson Road in the Tanglin area.Su Wenqiang, a 31-year-old Cambodia national, arrested in a GCB along Lewis Road in the Bukit Timah area. Collapse Expand

Related:

10 suspects in billion-dollar money laundering case not on Interpol list; other Singaporeans, PRs being probed: Josephine Teo

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