Chinese national who had Singaporeans front landed property purchases arrested
A CHINESE national, who absconded after he was charged with having Singaporeans front his purchases of three landed properties worth over S$6 million in total, has been arrested upon his return to Singapore, The Business Times has learnt.
Zhan Guotuan had allegedly nominated a Singaporean couple to purchase three houses on East Coast Road that were restricted – as they were not “non-restricted residential property” – between 2007 and 2008.
Foreigners are not permitted to buy landed property on Singapore’s main island.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.