Multi-billion dollar money laundering case: Man charged with forgery, forgery

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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