Wang Junjie is the second Singaporean to be charged in the case.
Multi-billion dollar money laundering case: Man charged with forgery, forgery
Wang Junjie, the former director of companies linked to two people convicted in the $3 billion money laundering case, leaves the state courts on January 23, 2025.
SINGAPORE: A man was charged on Thursday (January 23) with 15 offences, including forgery and forgery, in a $3 billion (S$2.2 billion) money laundering case.
Wang Junjie, 42, is the second Singaporean to be charged in the case.
Most of the charges against him concern two foreigners, Su Haijin and Su Baolin, who were jailed last year for several crimes, including money laundering. Wang is a former director of LW Consultancy, which was hired by Su Haijin and Su Baolin to provide corporate secretarial services for two companies - Yihao Cyber Technologies and Xinbao Investments Holdings.
CHARGES
Wang was a director of Yihao Cyber Technologies between January 3, 2021 and February 7, 2022, police said.
Four of his charges relate to conspiring with Su Haijin to falsify Yihao Cyber Technologies' accounts for the financial years 2019 to 2022. This includes the shell company's revenue, gross profit and trade receivables.
Three other charges relate to allegedly colluding with Su Haijin to make false statements to the Inland Revenue Authority of Singapore (IRAS) regarding the shell company's financial figures. It is understood that he did the same thing to the Ministry of Manpower.
Wang is also accused of having an agreement between Yihao Cyber Technologies and SG-Gree, which was submitted to DBS as supporting documentation to facilitate the opening of a bank account for Yihao.
Wang Junjie, the former director of a corporate services provider linked to two people convicted in a $3 billion money laundering case, leaves the state courts on January 23, 2025.
Wang served as a director of Xinbao Investments Holdings between August 2, 2018 and December 22, 2023.
The 42-year-old is also accused of making false statements to IRAS regarding the financial figures of Xinbao Investments Holdings. He is alleged to have worked with Su Baolin to falsify the company's revenue, gross profits and trade receivables for the 2019-2021 financial years.
Wang also defrauded OCBC by submitting false documents to the bank in response to its inquiries about certain transactions.
The other two charges relate to his lack of integrity as a director of Yihao Cyber Technologies and Xinbao Investments Holdings.
Wang was released on $50,000 bail and will return to court on March 6.
Su Haijin and Su Baolin were among 10 people convicted in the case last year. Su Haijin and Su Baolin were sentenced to 14 months in prison and ordered to forfeit S$165 million and S$65 million to the state. They were also deported and banned from returning to Singapore.
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